TORONTO, Feb. 24, 2014 /CNW/ - Allbanc Split Corp. (the "Company")
announced today that it has called 148,100 Preferred Shares for cash
redemption on March 10, 2014 (in accordance with the Company's
Articles) representing approximately 12.576% of the outstanding
Preferred Shares as a result of the special annual retraction of
148,100 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 March 6, 2014 will have approximately 12.576% of
their Preferred Shares redeemed. The redemption price for the
Preferred Shares will be $31.64 per share.
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 March 10, 2014.
Payment of the amount due to holders of Preferred Shares will be made by
the Company on March 10, 2014. From and after March 10, 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.
Allbanc Split Corp. is a mutual fund Corporation created to hold a
portfolio of publicly listed common shares of selected Canadian
chartered banks. Class A Capital Shares and Class C Preferred Shares of
Allbanc Split Corp. are listed for trading on The Toronto Stock
Exchange under the symbols ABK.A and ABK.PR.C respectively.
SOURCE Allbanc Split Corp.