TORONTO, Sept. 10, 2018 /CNW/ - BNS Split Corp. II (the "Company") announced today that it has called 20,903 Preferred Shares for cash redemption on September 21, 2018 (in accordance with the Company's Articles of Incorporation, as amended) representing approximately 4.46% of the outstanding Preferred Shares as a result of the special annual retraction of 41,806 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 19, 2018 will have approximately 4.46% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $19.71 per share.
In addition, holders of a further 4,000 Capital Shares and 2,000 Preferred Shares have deposited such shares concurrently for retraction on September 21, 2018. As a result, a total of 45,806 Capital Shares and 22,903 Preferred Shares, or approximately 4.87% 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 21, 2018.
Payment of the amount due to holders of Preferred Shares will be made by the Company on September 21, 2018. On and after September 21, 2018 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.C 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