TORONTO, Sept. 8, 2014 /CNW/ - BNS Split Corp. II (the "Company") announced today that it has called 73,625 Preferred Shares for cash redemption on September 22, 2014 (in accordance with the Company's Articles) representing approximately 10.35% of the outstanding Preferred Shares as a result of the special annual retraction of 150,950 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 18, 2014 will have approximately 10.35% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $18.85 per share.
In addition, holders of a further 3,700 Capital Shares and 1,850 Preferred Shares have deposited such shares concurrently for retraction on September 22, 2014. As a result, a total of 150,950 Capital Shares and 75,475 Preferred Shares, or approximately 10.58% 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, 2014.
Payment of the amount due to holders of Preferred Shares will be made by the Company on September 22, 2014. From and after September 22, 2014 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 BSC.PR.B respectively.
SOURCE: BNS Split Corp. II
For further information: Investor Relations, BNS Split Corp. II, (416) 863-7301, E-mail: [email protected], Web site: www.scotiamanagedcompanies.com