LSC.PR.C: Partial Call for Redemption

Lifeco Split Corporation, sponsored by Scotia Managed Companies, has announced:

that it has called 34,146 Preferred Shares for cash redemption on July 29, 2011 (in accordance with the Company’s Articles) representing approximately 11.435% of the outstanding Preferred Shares as a result of the special annual retraction of 68,292 Capital Shares by the holders thereof. The Preferred Shares shall be redeemed on a pro rata basis, so that each holder of Preferred Shares of record on July 28, 2011 will have approximately 11.435% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $36.84 per share.

Holders of Preferred Shares that are on record for dividends but have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to but not including July 29, 2011.

Payment of the amount due to holders of Preferred Shares will be made by the Company on July 29, 2011. From and after July 29, 2011 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.

Lifeco Split Corporation Inc. is a mutual fund corporation created to hold a portfolio of common shares of selected publicly listed Canadian life insurance companies. Capital Shares and Preferred Shares of Lifeco Split Corporation Inc. are listed for trading on The Toronto Stock Exchange under the symbols LSC and LSC.PR.C respectively.

LSC.PR.C was last mentioned on PrefBlog when there was a partial redemption and change of terms last year. LSC.PR.C is not tracked by HIMIPref™.

One Response to “LSC.PR.C: Partial Call for Redemption”

  1. […] was last mentioned on PrefBlog when there was a partial redemption in 2011. The information circular to which they refer was discussed on […]

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