TORONTO, Sept. 8, 2011 /CNW/ - BNS Split Corp. II (the "Company")
announced today that it has called 842,301 Preferred Shares for cash
redemption on September 22, 2011 (in accordance with the Company's
Articles) representing approximately 46.440% of the outstanding
Preferred Shares as a result of the special annual retraction of
1,684,602 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 September 20, 2011 will have approximately 46.440%
of their Preferred Shares redeemed. The redemption price for the
Preferred Shares will be $18.85 per share.
In addition, holders of a further 1,320,922 Capital Shares and 660,486
Preferred Shares have deposited such shares concurrently for retraction
on September 22, 2011. As a result, a total of 3,005,574 Capital Shares
and 1,502,787 Preferred Shares, or approximately 60.641% 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 September 22, 2011.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on September 22, 2011. From and after September 22, 2011
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.
BNS Split Corp. II is a mutual fund corporation whose principal
undertaking is to invest in common shares of The Bank of Nova Scotia.
Capital Shares and Preferred Shares of BNS Split Corp. II are listed
for trading on The Toronto Stock Exchange under the symbols BSC and
SOURCE BNS Split Corp. II
For further information:
BNS Split Corp. II
Web site: www.scotiamanagedcompanies.com