ABK.PR.B Retains Financial Advisor

Scotia Managed Companies has announced:

Allbanc Split Corp. (the “Company”) announced today that its Board of Directors has retained Scotiabank to advise the Company on a possible extension and reorganization of the Company. There is no guarantee after such review an extension will be proposed and if proposed, will be approved by shareholders.

The Company is a mutual fund corporation created to hold a portfolio of publicly listed common shares of selected Canadian chartered banks. Class A Capital Shares, and Class B Preferred Shares of AllBanc Split Corp. are listed for trading on The Toronto Stock Exchange under the symbols ABK.A and ABK.PR.B respectively.

ABK.PR.B is a fairly small issue, with less than half a million shares outstanding with a par value of $26.75 each. It is scheduled for redemption 2013-3-8.

ABK.PR.B was last mentioned on PrefBlog in connection with their partial call for redemption in February. ABK.PR.B is not tracked by HIMIPref™.

This entry was posted on Monday, August 20th, 2012 at 5:43 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.

One Response to “ABK.PR.B Retains Financial Advisor”

  1. ABK.PR.B: Reorganization Proposal to Refund Preferreds « PrefBlog says:
    October 31, 2012 at 3:41 pm

    […] was last mentioned on PrefBlog when they retained their advisor for this transaction. ABK.PR.B is not tracked by […]

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