M Split Corp. Capital Share Consolidation
December 12 2019 - 5:05PM
M Split Corp. (the “Company”) announces further details regarding
the XMF.A Capital Share (“Capital Share”) consolidation.
In connection with the termination date
extension of the Company, an additional retraction right was
offered 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.
Immediately after the retraction payment on or
before December 16, 2019, there will be an unequal number of shares
outstanding between the Capital Shares, XMF.PR.B Class I Preferred
Shares and XMF.PR.C Class II Preferred Shares. As outlined in
the November 22, 2019 press release, in order to restore an equal
amount of shares outstanding for each Class, the Capital Shares
will be consolidated at a ratio of 0.722920066 for each Capital
Share outstanding. In the event that the share consolidation
would otherwise result in the issuance of fractional shares, no
fractional Capital Shares will be issued and the number of Capital
Shares each holder shall receive will be rounded down to the
nearest whole number. The consolidation will be a non-taxable
event.
It is expected that the Capital Shares will
trade on a post-consolidation basis at the opening of trading on
December 17, 2019.
The aggregate intrinsic value of the Capital
shareholders’ holdings will remain the same and as a result the net
asset value per Capital Share will increase on a proportionate
basis for each post-consolidation share on the consolidation
date.
The impact of the Capital Share consolidation
will be reflected in the next reported net asset valuer per unit as
at December 31, 2019.
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 publicly filed documents
which are available at www.sedar.com.
Investor Relations:
1-877-478-2372
Local:
416-304-4443
www.m-split.com
info@quadravest.com
M Split (TSX:XMF.A)
Historical Stock Chart
From Jun 2024 to Jul 2024
M Split (TSX:XMF.A)
Historical Stock Chart
From Jul 2023 to Jul 2024