TORONTO, May 19 /CNW/ - R Split III Corp. (the "Company") announced
today that it has called 138,250 Preferred Shares for cash redemption
on May 31, 2011 (in accordance with the Company's Articles)
representing approximately 8.9583729% of the outstanding Preferred
Shares as a result of the annual retraction of 276,500 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 May
30, 2011 will have approximately 8.9583729% of their Preferred Shares
redeemed. The redemption price for the Preferred Shares will be $29.22
In addition, holders of a further 150,000 Capital Shares and 75,000
Preferred Shares have deposited such shares concurrently for retraction
on May 31, 2011. As a result, a total of 426,500 Capital Shares and
213,250 Preferred Shares, or approximately 13.1778% 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 May 31, 2011.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on May 31, 2011. From and after May 31, 2011 the holders of
Preferred Shares that have been called for redemption will not be
entitled to dividends or to exercise any rights in respect of such
shares except to receive the amount due on redemption.
R Split III Corp. is a mutual fund corporation created to hold a
portfolio of common shares of Royal Bank of Canada. Capital Shares and
Preferred Shares of R Split III Corp. are listed for trading on The
Toronto Stock Exchange under the symbols RBS and RBS.PR.A respectively.
SOURCE R Split III Corp.
For further information:
R Split III Corp.
Web site: www.scotiamanagedcompanies.com