ALB.PR.A : Partial Call for Redemption

Allbanc Split Corp. II has announced:

that it has called 164,867 Preferred Shares for cash redemption on February 28, 2008 (in accordance with the Company’s Articles) representing approximately 3.524% of the outstanding Preferred Shares as a result of the special annual retraction of 1,729,032 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 February 27, 2008 will have approximately 3.524% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $25.00 per share.

An annoyingly small redemption … big enough to turn board-lots into odd-lots, without providing (for most holders, I’m sure) a tradeable amount of cash.

ALB.PR.A is tracked by HIMIPref™ and is a member of the SplitShares Index. It has been recently removed from the S&P/TSX Preferred Share Index.

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