/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES./
TORONTO, Nov. 29, 2011 /CNW/ - 5Banc Split Inc. (the "Company")
announced today that it has filed a preliminary short form prospectus
in respect of a proposed public offering of a new series of Class C
preferred shares (the "Class C Preferred Shares"). The Class C
Preferred Shares are being offering to the public on a best efforts
basis by a syndicate of agents led by TD Securities Inc. which includes
Scotia Capital Inc., BMO Capital Markets and National Bank Financial
The Company holds a portfolio of publicly listed common shares of Bank
of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of
Commerce, Royal Bank of Canada and The Toronto-Dominion Bank in order
to provide holders of the Class C Preferred Shares with fixed
cumulative preferential dividends and to provide holders of its Class B
capital shares (the "Capital Shares") with a leveraged investment and
excess dividends, if any, subject to the prior rights of holders of
Class C Preferred Shares and after payment of the expenses of the
Company and dividends payable on the Class C Preferred Shares.
The Capital Shares and the Class B preferred shares of the Company (the
"Class B Preferred Shares") are listed and posted for trading on the
Toronto Stock Exchange under the symbols FBS.B and FBS.PR.B
respectively. The Class B Preferred Shares will be redeemed on December
15, 2011 in accordance with their terms.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy securities in the United States, nor
shall there by any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful. The securities of
the Fund offered by the prospectus have not been registered under the U.S. Securities Act of 1933, as amended (the "1933 Act"), or any state securities laws and
may not be offered or sold in the United States or to a U.S. person
absent registration under the 1933 Act or an applicable exemption from
the registration requirements of the 1933 Act and applicable state
A preliminary short form prospectus containing important information
relating to these securities has been filed with securities commissions
or similar authorities in each Province of Canada. The preliminary
short form prospectus is still subject to completion or amendment.
Copies of the preliminary short form prospectus may be obtained from TD
Securities Inc. or any other member of the syndicate. There will not be
any sale or any acceptance of an offer to buy the securities until a
receipt for the final short form prospectus has been issued.
SOURCE 5Banc Split Inc.
For further information: