TORONTO, Oct. 31, 2014 /CNW/ - TD Split Inc. (the "Company") announced today that is has called 158,800 Class C Preferred Shares for cash redemption on November 14, 2014, representing approximately 14.08% of the outstanding Class C Preferred Shares as a result of holders of 158,800 Class C Capital Shares exercising their special annual retraction rights. The Class C Preferred Shares on the close of business on November 14, 2014 will have approximately 14.08% of their Class C Preferred Shares redeemed. The redemption price for the Class C Preferred Shares will be $10.00 per share. Holders of Class C Preferred Shares that have been called for redemption will only be entitled to receive dividends thereon which have been declared but remain unpaid up to and including November 14, 2014.
In addition, holders of Class C Capital Shares also tendered 5,800 Class C Capital Shares concurrently with 5,800 Class C Preferred Shares for retraction.
Payments of cash owing as a result of the shareholders having exercised their retraction privilege and above the notice of call on the Class C Preferred Shares, will be made by the Company on November 14, 2014.
The Company was established to generate dividend income for the Class C Preferred Shares while providing holders of the Class C Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shared of The Toronto-Dominion Bank. Information concerning TD Split Inc. is available on our website at http://www.timbercreek.com/td-split-inc.
The Class C Capital Shares and Class C Preferred Shares of TD Split are listed on the Toronto Stock Exchange under the symbols TDS.C and TDS.PR.C respectively.
SOURCE: TD Split Inc.
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