NHS | FAQ’s
I don’t know if I was a shareholder on November 30, can you tell me if I was a shareholder on that day?
You will need to contact your broker to confirm if you held shares of New Age Farm Inc. in your account on November 30.
What if my shares are not with a broker?
You should have possession of your share certificates in that case. Check the date on your share certificate to determine if you had shares on November 30.
When will I get my shares in NHS Industries Ltd.?
New Age Farm will issue a news release when the shares are being sent out. Shareholders should not expect shares to be issued until late in the first quarter of 2017 at the earliest. There are a number of internal procedures that must be undertaken to complete the separation of NHS Industries Ltd. before shares can be issued.
How many shares of NHS Industries Ltd. will I get?
The number of NHS Industries Ltd. shares that will be issued to each New Age Farm shareholder will be determined by applying the conversion factor to the number ofshares of New Age Farm held by the shareholder. The company cannot advise on the number of shares to individual shareholders. It should be noted that the final calculation will be performed by the transfer agent.
Will I still have shares in New Age Farm?
Yes, you will continue to hold the same number of shares in New Age Farm that you had before the spin out of NHS Industries Ltd.
Will you deliver NHS Industries Ltd. shares to my broker or will you deliver them to me?
If you have your New Age Farm shares in a brokerage account, the shares will be delivered to the broker. If you hold them registered in your name, the shares will be delivered the address the company has on file for you.
My New Age Farm shares are at my broker, how will my broker know that I am getting shares of NHS Industries Ltd.?
Shares held in brokerage accounts are handled through CDS, the central depository of shares responsible for keeping track of the shares traded on the public market. When the NHS Industries Ltd. shares are issued, CDS will be notified and they will send notification to each broker that was holding a share position for its clients as of November 30. The brokers will then credit the shares to their client accounts.
How long will it take for my shares to show up in my account after the broker receives the notification from CDS?
This process can take a few days after the shares are issued and will vary depending on the broker. You can contact your broker directly once the news release has been issued to advise them that they should watch for the shares to show up.
I don’t have a brokerage account, how will I get my shares of NHS Industries Ltd.?
Your shares will be delivered to the address that New Age Farm has on file for you as of November 30.
I don’t want my NHS Industries Ltd. shares delivered to my broker, can you deliver them to me directly?
New Age Farm cannot have the shares delivered directly to you if you have your New Age Farm shares deposited with a broker. After your broker has received theshares, you can request that your broker send you the share certificate. Your broker will have a process for doing this and you should speak directly with your broker for more details on how this process works.
How much will the shares be worth (what is the price per share)?
This information will not be available until after all the steps in the spin out process have been completed. New Age Farm will be issuing further informational news releases as the steps are completed and when this information is available it will be publicly disclosed via news release.
Will I have to pay taxes on the shares of NHS Industries Ltd?
New Age Farm cannot offer information on the tax consequences of this transaction. Once all the steps are completed and the value of the shares has been determined, your personal advisors should be consulted to determine what this means for your personal tax situation.
Will the company be issuing a T5 for the shares of NHS Industries Ltd.?
At the present time, we do not know if there will be a need to issue T5 slips. If they are required, these will be issued.
Will I be able to sell/trade my NHS Industries Ltd. shares?
There will not be a public market for the shares until the shares are listed on an exchange. Private sales of the shares are possible but we cannot give advice on how to dispose of your shares. This is a question for your own legal/financial advisors.
When will the shares be listed on an exchange?
New Age Farm will make every effort to list the shares on an exchange as quickly as possible after all the steps in the spin out process have been completed. We cannot predict how long this process will take as each listing process is unique.
Which exchange will the NHS Industries Ltd. shares be listed on?
NHS intends to apply to list the NHS shares on the Canadian Securities Exchange, (the “CSE”).
When will I receive my shares?
New Age Farm has not yet set the date when the NHS shares will be pushed out to the New Age Farm shareholders.
Why have the NHS shares not yet been pushed out to the New Age Farm Shareholders?
There are a number of reasons that New Age Farm has continued to hold the NHS shares in trust for its loyal shareholders and believes that our shareholders will agree that it is logical and sensible to wait for the NHS shares to be issued after the final prospectus has been accepted. These reasons are explained below.
- NHS and New Age Farm have agreed to list NHS on a stock exchange to provide the NHS shareholders with a market to support their ownership of the shares and provide liquidity that will allow the NHS shareholders to monetize the NHS shares if they so desire. Should they choose to hold their NHS shares, having the shares listed on a stock exchange will provide ongoing value to the shareholder who holds the shares in her or her portfolio. Until the shares are listed on an exchange, there is no market for the shares and the shares remain illiquid. The Company has filed a preliminary non-offering prospectus with the British Columbia Securities Commission as a first step in its intention to list the Company’s shares on the Canadian Securities Exchange.
- Another reason that the NHS shares have not yet been pushed out to the shareholders is also related to the lack of liquidity and non-public nature of the shares at the present time. Shareholders who hold their shares in online self-serve style brokerage accounts in many instances cannot hold non-publicly traded shares in their accounts under the terms and conditions imposed by the online brokerages. As such, any shares pushed out to those shareholders will be rejected out of their client accounts at any such online brokerages and the shareholders will have shares they are unable to sell, transfer or otherwise monetize. In the opinion of the Company, it is better to wait until the shares are trading on the CSE to push them to the shareholders to avoid this inconvenience to the shareholder.
- A final reason that New Age Farm is continuing to hold the NHS shares in trust for the shareholders is that many shareholders hold their New Age Farm shares in registered accounts such as RRSP and TFSA accounts. The NHS shares are not RRSP eligible and therefore, if the NHS shares are pushed out to these accounts, it will cause the NHS shares to be rejected back to the shareholder and the shareholders will have shares they are unable to sell, transfer or otherwise monetize. There may be tax consequences for shareholders receiving these shares into TFSA accounts that could result in significant costs for the shareholder. In the opinion of the Company, it is in the best interests of the shareholders to wait until the shares are trading on the CSE to push them to the shareholders to avoid these costs being incurred by the shareholder.
When will the final prospectus be filed?
The preliminary prospectus is currently being reviewed by the BCSC. We will provide updates as we are able as we progress through the steps leading up to the filing of the final prospectus.