Big 8 Split announces final redemption for class D preferred shares

By Wendy Van Sickle

Columbus, Ohio, Dec. 4 – Big 8 Split Inc. said that in connection with the upcoming maturity of the fund on Dec. 14, 739,483 class D preferred shares and 739,483 class D capital shares have been tendered for redemption.

The redemption price to be paid for the class D preferred shares will be C$10.00 per class share, and the redemption price for the class D capital shares will be C$16.56 per share.

Holders of class D capital shares tendered 140,139 class D capital shares, or about 15.93% of the outstanding capital shares, together with a cash amount of C$10.00 per share tendered in exchange for the holder’s pro rata share of the company’s shares of Bank of Montreal, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corporation, and Sun Life Financial Inc.

Big 8 Split was established to generate dividend income for holders of the preferred shares while providing holders of the capital shares with a leveraged opportunity to participate in capital appreciation from a portfolio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.