Timbercreek Asset Management Inc. has announced:
Big 8 Split Inc. (the “Company”) announced today that in connection with the previously announced upcoming maturity of the fund on December 14, 2018, 739,483 Class D Preferred Shares and 739,483 Class D Capital Shares have been tendered for redemption. The redemption price to be paid for the Class D Preferred Shares will be $10.00 per Class D Preferred Share, and the redemption price for the Class D Capital Shares will be $16.56 per Class D Capital Share.
Holders of Class D Capital Shares tendered 140,139 Class D Capital Shares (representing approximately 15.93% of the outstanding Class D Capital Shares), together with a cash amount of $10.00 per Class D Capital Share tendered (together, a “Big 8 Split Unit”), in exchange for the holder’s pro rata share of the Company’s shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corporation, and Sun Life Financial Inc.
Payments of cash and delivery of the underlying portfolio shares owing to shareholders as a result of the final redemptions will be made by the Company on December 14, 2018.
The Company was established to generate dividend income for the Class D Preferred Shares while providing holders of the Class D Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada, The Toronto-Dominion Bank, Great-West Lifeco Inc., Manulife Financial Corporation, and Sun Life Financial Inc. Information concerning Big 8 Split Inc. is available on our website at www.timbercreek.com/investments/managed-companies/big8-split-inc/overview.
The Class D Capital Shares and Class D Preferred Shares of Big 8 Split are listed on the Toronto Stock Exchange under the symbols BIG.D and BIG.pr.D respectively.
BIG.PR.D has not been tracked by HIMIPref™, as it was too small to allow reasonable expectations of efficient trading.
This entry was posted on Tuesday, December 4th, 2018 at 6:59 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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BIG.PR.D to Mature on Schedule
Timbercreek Asset Management Inc. has announced:
BIG.PR.D has not been tracked by HIMIPref™, as it was too small to allow reasonable expectations of efficient trading.
This entry was posted on Tuesday, December 4th, 2018 at 6:59 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.