World Financial Split to start issuer bid for preferreds on Friday

By Susanna Moon

Chicago, July 13 - World Financial Split Corp. said the Toronto Stock Exchange accepted its plans for a normal course issuer bid to purchase up to 358,230 preferred shares and 358,230 class A shares beginning July 15.

The amounts represent about 10% of the fund's public float of 3,582,306 preferreds and 3,582,306 class A shares. The securities are issued in units of one preferred and one class A share, according to a company press release.

The fund may not purchase more than 71,646 of its units in any 30-day period under the bid. The amount is 2% of the issued and outstanding units as of June 30.

Purchases under the issuer bid will be made in the open market through the facilities of the Toronto Stock Exchange.

The issuer bid will remain in effect until the earlier of July 14, 2012, the termination of the bid by the fund or the purchase of the maximum number of units permitted under the bid.

Securities purchased by the fund will be canceled.

World Financial Split is a mutual fund company based in Toronto.

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