TORONTO, Feb. 15, 2012 /CNW/ - Allbanc Split Corp. II (the "Company")
announced today that it has called 556,939 Preferred Shares for cash
redemption on February 28, 2012 (in accordance with the Company's
Articles) representing approximately 26.2009537% of the outstanding
Preferred Shares as a result of the special annual retraction of
1,113,878 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 February 24, 2012 will have approximately
26.2009537% of their Preferred Shares redeemed. The redemption price
for the Preferred Shares will be $21.80 per share.
In addition, holders of a further 100,000 Capital Shares and 50,000
Preferred Shares have deposited such shares concurrently for retraction
on February 28, 2012. As a result, a total of 1,213,878 Capital Shares
and 606,939 Preferred Shares, or approximately 27.8970% 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 February 28, 2012.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on February 28, 2012. From and after February 28, 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. II is a mutual fund corporation created to hold a
portfolio of publicly listed common shares of selected Canadian
chartered banks. Capital Shares and Preferred Shares of Allbanc Split
Corp. II are listed for trading on The Toronto Stock Exchange under the
symbols ALB and ALB.PR.B respectively.
SOURCE Allbanc Split Corp. II
For further information:
Allbanc Split Corp. II
Telephone: (416) 863-5930
Web site: www.scotiamanagedcompanies.com