{"id":2383,"date":"2008-07-12T15:18:48","date_gmt":"2008-07-12T19:18:48","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2383"},"modified":"2008-07-12T15:18:48","modified_gmt":"2008-07-12T19:18:48","slug":"gtpra-redemption-price-announced","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2383","title":{"rendered":"GT.PR.A Redemption Price Announced"},"content":{"rendered":"<p>Mulvihill <a href=\"http:\/\/www.mulvihill.com\/pr\/GT.A\/GT.A_Jul08_08.pdf\">has announced<\/a> on behalf of Global Telecom Split Share Corp.:<\/p>\n<blockquote><p>that the redemption prices to be paid for all Preferred Shares and Class A Shares outstanding on the July 2, 2008 final redemption date are as follows:<\/p>\n<ul>\n<li>Redemption Price per Preferred Share = $12.4838\n<li>Redemption Price per Class A Share = nil<\/ul>\n<p>In addition, the Company will pay holders of Preferred Shares all accrued and unpaid dividends to date amounting to $0.20625 per Preferred Share. The Company expects that the redemption price and unpaid dividend will be paid to holders of Preferred Shares on or about July 10, 2008.<\/p><\/blockquote>\n<p>GT.PR.A&#8217;s ratings woes were highlighted in <a href=\"http:\/\/www.prefblog.com\/?p=442\">an article I wrote about Split Shares<\/a>; the fund&#8217;s preferreds serve as an object lesson that you can&#8217;t simply ignore the underlying security when purchasing a split-share pref with a high coverage ratio. The fund&#8217;s prospectus was dated June 18, 1998 &#8230; it did quite well &#8230; for a while.<\/p>\n<p>Issue price of both the capital shares and preferred shares was $15.00, issued in equal amounts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mulvihill has announced on behalf of Global Telecom Split Share Corp.: that the redemption prices to be paid for all Preferred Shares and Class A Shares outstanding on the July 2, 2008 final redemption date &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-2383","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2383","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2383"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2383\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2383"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2383"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2383"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}