Scotia Managed Companies has announced:
R Split III Corp. (the “Company”) announced today that it has called 111,228 Preferred Shares for cash redemption on May 29, 2015 (in accordance with the Company’s Articles) representing approximately 18.652% of the outstanding Preferred Shares as a result of the annual retraction of 222,456 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 May 27, 2015 will have approximately 18.652% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $13.60 per share.
In addition, holders of a further 23,400 Capital Shares and 11,700 Preferred Shares have deposited such shares concurrently for retraction on May 29, 2015. As a result, a total of 245,856 Capital Shares and 111,228 Preferred Shares, or approximately 20.217% of both classes of shares currently outstanding, will be redeemed.
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 May 29, 2015.
Payment of the amount due to holders of Preferred Shares will be made by the Company on May 29, 2015. From and after May 29, 2015 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any rights in respect of such shares except to receive the amount due on redemption.
R Split III Corp. is a mutual fund corporation created to hold a portfolio of common shares of Royal Bank of Canada. Capital Shares and Preferred Shares of R Split III Corp. are listed for trading on The Toronto Stock Exchange under the symbols RBS and RBS.PR.B respectively.
RBS.PR.B was last mentioned on PrefBlog when there was a partial redemption in May 2014. It is not tracked by HIMIPref™ since, with only about 600,000 shares outstanding with a par value of $13.60, it’s too small – and now it’s getting smaller!
This entry was posted on Friday, May 15th, 2015 at 8:38 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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RBS.PR.B: Partial Call For Redemption
Scotia Managed Companies has announced:
RBS.PR.B was last mentioned on PrefBlog when there was a partial redemption in May 2014. It is not tracked by HIMIPref™ since, with only about 600,000 shares outstanding with a par value of $13.60, it’s too small – and now it’s getting smaller!
This entry was posted on Friday, May 15th, 2015 at 8:38 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.