Business & Finance
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Published in Business and Finance on Tuesday, November 1st 2011 at 13:43 GMT by Market Wire🞛 This publication is a summary or evaluation of another publication
November 01, 2011 16:31 ET
TD Split Inc. Announces Partial Call for Redemption
TORONTO, ONTARIO--(Marketwire - Nov. 1, 2011) - TD Split Inc. (the "Company") (TSX:TDS.C)(TSX:TDS.PR.C) announced today that it has called 940,400 Class C Preferred Shares for cash redemption on November 15, 2011, representing approximately 31.25 % of the outstanding Class C Preferred Shares as a result of holders of 940,400 Class C Capital Shares exercising their special annual retraction rights. The Class C Preferred Shares shall be redeemed on a pro rata basis, so that holders of record of Class C Preferred Shares on the close of business on November 14, 2011 will have approximately 31.25 % of their Class C Preferred Shares redeemed. The redemption price for the Class C Preferred Shares will be $10.00 per share. Holders of Class C Preferred Shares that have been called for redemption will only be entitled to receive dividends thereon which have been declared but remain unpaid up to and including November 15, 2011.
In addition, holders of a further 111,100 Class C Preferred and Class C Capital Shares have deposited such shares concurrently for retraction on November 15, 2011. As a result, a total of 1,051,500 Class C Preferred and Class C Capital Shares, or approximately 33.70 % of both classes of shares currently outstanding will be redeemed.
Payments of cash owing as a result of shareholders having exercised their retraction privilege and the above notice of call on the Class C Preferred Shares, will be made by the Company on November 15, 2011.
The Company was established to generate dividend income for the Class C Preferred Shares while providing holders of the Class C Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of The Toronto-Dominion Bank. Information concerning TD Split Inc. is available on our website at [ www.tdsponsoredcompanies.com ].
The Class C Capital Shares and Class C Preferred Shares of TD Split are listed on the Toronto Stock Exchange under the symbols TDS.C and TDS.PR.C respectively.
