GMP Converts into Corporation
|Areas||Corporate Finance and Securities, Litigation, REITs and Income Securities, Tax|
Goodmans represented GMP Capital Trust in connection with its conversion from an income trust into a corporation by way of a plan of arrangement on May 15, 2009. Approximately 64 million trust units of GMP Capital Trust and exchangeable limited partner units of Griffiths McBurney LP were exchanged for common shares of GMP Capital Inc., and approximately 6.154 million preferred limited partner units of GMP Preferred L.P., an indirect subsidiary of GMP Capital Trust, were exchanged for an equal number of preferred shares of GMP Capital Inc. The common shares of GMP Capital Inc. trade on the TSX under the symbol GMP.