M Split Corp. Preferred Share Rates
September 19 2019 - 9:00AM
M Split Corp. (the “Company”) previously announced on February 21,
2019 it will extend the termination date of the Company a further
five year period from December 1, 2019 to December 1, 2024.
In connection with the extension, the Company
has the right to amend the annual rate of cumulative preferential
monthly dividends to be paid to the XMF.PR.B Class I Preferred
Shares (“Class I Preferred Shares”) and the XMF.PR.C Class II
Preferred Shares (“Class II Preferred Shares”) for the five year
renewal period, commencing December 1, 2019. In keeping with market
yields for preferred shares with similar terms, there will be no
change to the rate of the Class I Preferred Shares and Class II
Preferred Shares.
In relation to the term extension, the Company
has an additional retraction right for those shareholders not
wishing to continue holding their investment, allowing existing
shareholders to tender any or all classes of Shares and receive a
retraction price based on the November 29, 2019 net asset value per
unit. Alternatively, shareholders may sell their shares for the
market price at any time, potentially at a higher price than would
be achieved through retraction, or shareholders may take no action
and continue to hold their shares.
The Company invests in common shares of Manulife
Financial Corporation, the largest life insurer in Canada offering
financial products and wealth management services.
Certain statements included in this news release
constitute forward-looking statements, including, but not limited
to, those identified by the expressions “expect”, “intend”, “will”
and similar expressions to the extent they relate to the Company.
The forward-looking statements are not historical facts but reflect
the Company’s current expectations regarding future results or
events. These forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. Although the
Company believes that the assumptions inherent in the
forward-looking statements are reasonable, forward-looking
statements are not guarantees of future performance and,
accordingly, readers are cautioned not to place undue reliance on
such statements due to the inherent uncertainty therein. The
Company undertakes no obligation to update publicly or otherwise
revise any forward-looking statement or information whether as a
result of new information, future events or other such factors
which affect this information, except as required by law.
Commissions, trailing commissions, management fees and expenses all
may be associated with mutual fund investments. Investors should
read the prospectus before investing. Mutual funds are not
guaranteed, their values change frequently and past performance may
not be repeated. Please read the Company’s publically filed
documents which are available at www.sedar.com.
Investor Relations: 1-877-478-2372Local:
416-304-4443 www.m-split.com info@quadravest.com
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