5Banc Split Inc. Announces Partial Call for Redemption

TORONTO, Dec. 1, 2014 /CNW/ - 5Banc Split Inc. (the "Company") announced today that it has called 294,870 Preferred Shares for cash redemption on December 15, 2014 representing approximately 18.33% of the outstanding Preferred Shares as a result of holders of 294,870 Capital Shares exercising their special annual retraction rights. The Preferred Shares shall be redeemed on a pro rata basis, so that holders of record of Preferred Shares on the close of business on December 11, 2014 will have approximately 18.33% of their Preferred Shares redeemed. The redemption price of $10.00 per Preferred Share will be paid on December 15, 2014. Holders of Preferred Shares that have been called for redemption will only be entitled to receive dividends on those which have been declared but remain unpaid up to and including December 15, 2014.

As a result, a total of 294,870 Preferred and Capital Shares, or approximately 18.33% of both classes of shares currently outstanding will be redeemed.

Payments and delivery of cash and common shares owing as a result of shareholders having exercised their retraction privilege and the above notice of call, will be made by the Company on December 15, 2014.

5Banc Split Inc. 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 of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank.

Information concerning 5Banc Split Inc. is available on our website at http://www.timbercreek.com/5banc-split-inc.

The Capital Shares and Preferred Shares of 5Banc Split are listed on the Toronto Stock Exchange under the symbols FBS.B and FBS.PR.C respectively.

SOURCE: Timbercreek Asset Management Inc.

Timbercreek Asset Management Inc.
Carrie Morris
Investor Relations
[email protected]