TORONTO, Jan. 6, 2012 /CNW/ - Connor, Clark & Lunn Capital Markets Inc.
announces that that CANADIAN Financials & Utilities Split Corp. (the
"Company") will redeem its Preferred Shares and Class A Shares as
scheduled on January 31, 2012 (the "Maturity Date").
The redemption price payable by the Company for a Preferred Share will
be equal to the lesser of (i) $10.00 plus any accrued and unpaid
distributions in respect of the Preferred Shares, and (ii) the NAV of
the Company on that date divided by the number of Preferred Shares then
The redemption price payable by the Company for a Class A Share on that
date will be equal to the greater of (i) the NAV per Unit on that date
minus the sum of $10.00 plus any accrued and unpaid distributions on
the Preferred Shares, and (ii) nil. One Unit means one Preferred Share
and one Class A Share.
As at December 31, 2011, the NAV per Unit of the Company was estimated
to be $15.33, which equates to $5.33 per Class A Share and $10.00 per
The Company's Preferred Shares and Class A Shares are listed on the TSX
under the symbols CFS.PR.A and CFS, respectively.
SOURCE Connor, Clark
For further information:
For more information, please visit www.cclcapitalmarkets.com or contact:
Vice President & CFO
Connor, Clark & Lunn Capital Markets Inc.
Toll Free: 1-888-276-2258