SPL.A Wound Up

Mulvihill Pro-AMS RSP Split Share Corp. has announced:

that its shareholders approved a special resolution amending the Articles of the Fund to terminate the Fund in advance of the redemption date originally scheduled for December 31, 2013. As a result of such approval, the Fund will redeem all Class A Shares and Class B Shares on October 29, 2010 for the redemption amounts to which holders are entitled. It is expected that the last trading day for the shares will be October 28, 2010 and the proceeds from the redemption of the Class A Shares and Class B Shares are expected to be paid in approximately 10 business days from the redemption date. No action need be taken by holders of Class A Shares or Class B Shares to receive their redemption amounts.

Given the small size of the Fund, operating costs are becoming a greater burden on the net asset value while
trading liquidity has been significantly reduced. Redeeming all Class A Shares and Class B Shares on October 29, 2010 will preserve value for shareholders. As a result of the redemption, the Class A Shares and Class B Shares of the Fund will be de-listed by the Toronto Stock Exchange.

The NAV of SPL.A was 8.49 as of October 29. As of the June 30, 2010, financial statements the fund value was $8.92-million.

SPL.A was last mentioned on PrefBlog when its credit rating was discontinued by DBRS. SPL.A was tracked by HIMIPref&trades;, but was relegated to the Scraps index at the October 2002 rebalancing on volume concerns. It was downgraded to Pfd-3 by DBRS as of April 9, 2003.

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