TORONTO, Feb. 24 /CNW/ - Allbanc Split Corp. (the "Company") announced
today that it has called 244,293 Preferred Shares for cash redemption
on March 10, 2011 (in accordance with the Company's Articles)
representing approximately 23.003% of the outstanding Preferred Shares
as a result of the special annual retraction of 244,293 Capital Shares
by the holders thereof. The Preferred Shares shall be redeemed on a pro
rata basis, so that each holder of Preferred Shares of record on March
9, 2011 will have approximately 23.003% of their Preferred Shares
redeemed. The redemption price for the Preferred Shares will be $26.75
Holders of Preferred Shares that are on record for dividends but have
been called for redemption will be entitled to receive dividends
thereon which have been declared but remain unpaid up to but not
including March 10, 2011.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on March 10, 2011. From and after March 10, 2011 the
holders of Preferred Shares that have been called for redemption will
not be entitled to dividends or to exercise any right in respect of
such shares except to receive the amount due on redemption.
Allbanc Split Corp. is a mutual fund Corporation created to hold a
portfolio of publicly listed common shares of selected Canadian
chartered banks. Class A Capital Shares and Class B Preferred Shares of
Allbanc Split Corp. are 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