PrefBlog

Sixty Split Corp. has announced:

that it has called 64,750 Preferred Shares for cash redemption on March 15, 2010 (in accordance with the Company’s Articles) representing approximately 10.402% of the outstanding Preferred Shares as a result of the special annual retraction of 129,500 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 March 12, 2010 will have approximately 10.402% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $25.00 per share.

In addition, holders of a further 100,234 Capital Shares and 50,117 Preferred Shares have deposited such shares concurrently for retraction on March 15, 2010. As a result, a total of 229,734 Capital Shares and 114,867 Preferred Shares, or approximately 17.0784% of both classes of shares currently outstanding, will be redeemed.

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 March 15, 2010. Payment of the amount due to holders of Preferred Shares will be made by the Company on March 15, 2010. From and after March 15, 2010 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.

SXT.PR.A was last mentioned on PrefBlog when it was upgraded to Pfd-2 by DBRS. SXT.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on volume concerns.

This entry was posted on Wednesday, March 3rd, 2010 at 12:44 am 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.