PrefBlog

BNS Split Corp. II has announced:

it has called 149,946 Preferred Shares for cash redemption on September 22, 2009 (in accordance with the Company’s Articles) as a result of the special annual retraction of 598,092 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 September 21, 2009 will have approximately 7.722% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $20.83 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 September 22, 2009.

Payment of the amount due to holders of Preferred Shares will be made by the Company on September 22, 2009. From and after September 22, 2009 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.

BSC.PR.A was last mentioned on PrefBlog when it was upgraded to Pfd-3(high) by DBRS. BSC.PR.A is not tracked by HIMIPref™.

This entry was posted on Tuesday, September 8th, 2009 at 6:02 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.