/THIS PRESS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS
NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR
DISSEMINATION IN THE UNITED STATES/
TORONTO, May 18 /CNW/ - Allbanc Split Corp. (the "Company") is pleased
to announce that it will be hosting an investor update conference call
on Tuesday, May 24, 2011, with Brian McChesney, President and CEO of
Scotia Managed Companies Administration (the "Administrator").
The conference call will provide an update on the Company's portfolio
Investors and investment advisors are reminded that the Fund currently
has warrants outstanding which expire on June 6, 2011 at 5:00 p.m.
(Toronto time). Note that investment dealers may have deadlines earlier
than June 6, 2011.
Tuesday, May 24, 2011 at 11:00 a.m. (EST)
Featuring Brian McChesney, President and CEO of the Administrator
Dial-in Numbers: 416-340-2217 or 1-866-696-5910
A replay of the conference call will be available at 905-694-9451 or
1-800-408-3053, passcode 1365315#.
Each warrant entitles the holder to purchase one Unit, each Unit
consisting of one Class A Capital Share and one Class B Preferred
Share, for a subscription price of $62.78 per Unit. The warrants are
listed on the Toronto Stock Exchange under the ticker symbol ABK.WT.
Holders of Class B Preferred Shares are entitled to receive quarterly
fixed cumulative dividends equal to $0.3344 per Class B Preferred
Share. The Company's Capital Share dividend policy is to pay holders of
Class A Capital Shares quarterly dividends in an amount equal to the
dividends received on the underlying portfolio securities minus the
dividends payable on the Class B Preferred Shares and all
administrative and operating expenses provided the net asset value per
Unit at the time of declaration, after giving effect to the dividend,
would be greater than the original issue price of the Class B Preferred
Allbanc Split Corp. is a mutual fund corporation created to hold a
portfolio of publicly listed common shares of selected Canadian
chartered banks. The Class A Capital Shares and Class B Preferred
Shares of Allbanc Split Corp. are all listed for trading on The Toronto
Stock Exchange under the symbols ABK.A and ABK.PR.B respectively.
SOURCE Allbanc Split Corp.
For further information:
Allbanc Split Corp.
Web site: www.scotiamanagedcompanies.com