TORONTO, Dec. 1 /CNW/ - Energy Split Corp. II (the "Company") announced today that it has called 5,209 ROC Preferred Shares for cash redemption on December 16, 2009 (in accordance with the Company's Articles) representing approximately 0.559% of the outstanding ROC Preferred Shares as a result of the special annual retraction of 107,818 Capital Yield Shares by the holders thereof. The ROC Preferred Shares shall be redeemed on a pro rata basis, so that each holder of ROC Preferred Shares of record on December 15, 2009 will have approximately 0.559% of their ROC Preferred Shares redeemed. The redemption price for the ROC Preferred Shares will be $13.74 per share.
Holders of ROC 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 December 16, 2009.
Payment of the amount due to holders of ROC Preferred Shares will be made by the Company on December 16, 2009. From and after December 16, 2009 the holders of ROC 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.
The Company's ongoing dividend policy entitles holders of ROC Preferred Shares to receive quarterly fixed cumulative distributions equal to $0.1718 per ROC Preferred Share. The Capital Yield Shareholders are provided with a leveraged play on the yield and price performance from a fixed portfolio consisting of 14 oil and gas royalty trusts listed on the Toronto Stock Exchange.
Capital Yield Shares and ROC Preferred Shares of Energy Split Corp. II Inc. are listed for trading on The Toronto Stock Exchange under the symbols EN and EN.PR.A respectively.
SOURCE ENERGY SPLIT CORP. II INC.
For further information: For further information: Investor Relations, Energy Split Corp. II Inc., (416) 945-4777, E-mail: firstname.lastname@example.org, Web site: www.scotiamanagedcompanies.com