TORONTO, Jan. 15, 2018 /CNW/ - Allbanc Split Corp. (the
"Fund"), announced today that all of its issued and outstanding
Class A Capital Shares ("Capital Shares") and Class C Preferred
Shares, Series 1 ("Preferred Shares") will be redeemed by the Fund
in accordance with their terms on March 9,
2018 and that the Fund will wind up and terminate as soon as
practicable after such date.
The redemption price for each Preferred Share will be an amount
equal to the Series 1 Preferred Share Redemption Price (as defined
in the provisions attaching to the Preferred Shares). The
Series 1 Preferred Share Redemption Price will equal the lesser of
(i) $31.64; and (ii) Unit Value (as
defined in the provisions attaching to the Preferred Shares).
The redemption price (the "Capital Share Redemption Price") for
every Capital Share redeemed will be an amount equal to the amount,
if any, by which the Unit Value exceeds $31.64.
Holders of Capital Shares who wish to receive a redemption
payment equal to the Capital Share Redemption Price in portfolio
shares (rounded down to the nearest whole share) rather than cash
must give notice to this effect to the Company and tender
$31.64 for every Capital Share
redeemed to the Company no later than February 9, 2018. Holders of Capital Shares who
do not give the required 20 business days' notice will be deemed to
have chosen to be paid in cash.
The payment of the amount due to holders of the redeemed Capital
Shares and Preferred Shares will be made by the Company on
March 9, 2018.
The Capital Shares and Preferred Shares will be delisted from
the Toronto Stock Exchange on or about March
9, 2018.
SOURCE Allbanc Split Corp.