S Split Corp. Announces Automatic Partial Redemption of Preferred Shares
19 November 2021 - 10:01PM
(TSX: SBN; SBN.PR.A) S Split Corp. (the “Fund”)
has announced that the Fund will effect a partial redemption of its
Preferred Shares (“Preferred Shares”) in order to maintain an equal
number of Preferred Shares and Class A Shares (“Class A”) of the
Fund outstanding. The partial redemption of the Preferred Shares is
being made in connection with the automatic seven-year extension of
the term of the Fund to November 30, 2028.
Pursuant to the special retraction right granted
to shareholders in connection with the extension of Fund, 168,373
Preferred Shares and 312,764 Class A Shares were surrendered for
retraction. In order to maintain an equal number of Preferred
Shares and Class A Shares, the Fund will redeem an aggregate of
144,391 Preferred Shares on a pro rata basis from all holders of
record of Preferred Shares on November 30, 2021 (the “Repayment
Date”), representing approximately 22.11% of the 652,929 issued and
outstanding Preferred Shares (post-Special Retraction Right). Each
Preferred Share that is redeemed pursuant to the partial redemption
will be redeemed at a price equal to $10.00, being the original
issue price per Preferred Share, plus declared and unpaid
distributions thereon (the “Repayment Price”). The Repayment Price
will be paid to holders whose Preferred Shares are redeemed by the
Fund on or before December 15, 2021.
For further information, please contact Investor Relations at
416.681.3966, toll free at 1.800.725.7172 or visit
www.strathbridge.com.
John Germain, Senior Vice-President & CFO |
Strathbridge Asset Management Inc.121 King Street
WestSuite 2600Toronto, Ontario, M5H 3T9 |
You will usually pay brokerage fees to your dealer if you
purchase or sell securities of the Fund on the Toronto Stock
Exchange. If securities of the Fund are purchased or sold on such
exchange, investors may pay more than the current net asset value
when buying securities of the Fund and may receive less than the
current net asset value when selling them. There are ongoing fees
and expenses associated with owning securities of the Fund. An
investment fund must prepare disclosure documents that contain key
information about the fund. You can find more detailed information
about the Fund in these documents. Investment funds are not
guaranteed, their values change frequently and past performance may
not be repeated.
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