TORONTO, Feb. 24, 2012 /CNW/ - Allbanc Split Corp. (the "Company")
announced today that it has called 239,120 Preferred Shares for cash
redemption on March 9, 2012 (in accordance with the Company's Articles)
representing approximately 24.893% of the outstanding Preferred Shares
as a result of the special annual retraction of 239,120 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
7, 2012 will have approximately 24.893% of their Preferred Shares
redeemed. The redemption price for the Preferred Shares will be $26.75
In addition, holders of a further 284,500 Capital Shares and 284,500
Preferred Shares have deposited such shares concurrently for retraction
on March 9, 2012. As a result, a total of 523,620 Capital Shares and
523,620 Preferred Shares, or approximately 42.05499% of both classes of
shares currently outstanding, will be redeemed.
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 9, 2012.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on March 9, 2012. From and after March 9, 2012 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