TDb Split Corp. Announces Normal Course Issuer Bid For Priority Equity Shares and Class A Shares
March 02 2009 - 3:12PM
Marketwired
TDb Split Corp. (the "Fund") (TSX: XTD)(TSX: XTD.PR.A) announced
today acceptance by the Toronto Stock Exchange (the "TSX") of the
Fund's Notice of Intention to commence a Normal Course Issuer Bid
(the "NCIB") for its Priority Equity Shares and Class A Shares (the
"Shares").
Pursuant to the NCIB, the Fund proposes to purchase, from time
to time, if it is considered advisable, up to 155,816 Priority
Equity Shares and 155,816 Class A Shares of the Fund, representing
approximately 10% of the public float of the Class A Shares. As of
February 27, 2009, there are 1,745,660 Priority Equity Shares
1,745,660 Class A Shares issued and outstanding. The Fund will not
purchase, in any given 30-day period, in the aggregate, more than
34,913 Priority Equity Shares or more than 34,913 Class A Shares,
being approximately 2% of the issued and outstanding Shares as of
the date hereof. The Board of Directors of the Fund, on the advice
of Quadravest Capital Management Inc., the Fund's portfolio
advisor, believes that such purchases are in the best interests of
the Fund and are a desirable use of its funds. All purchases will
be made through the facilities and in accordance with the rules and
policies of the TSX. All Priority Equity Shares or Class A Shares
purchased by the Fund pursuant to the NCIB will be cancelled. The
NCIB will commence on March 4, 2009 and will expire on March 3,
2010.
TDb Split Corp. is an investment fund managed by Quadravest Inc.
and advised by Quadravest Capital Management Inc. The Class A
Shares and the Priority Equity Shares of the Fund are listed in the
Toronto Stock Exchange under the symbols XTD and XTD.PR.A,
respectively.
Contacts: TDb Split Corp. Investor Relations (416) 304-4443 or
Toll Free: 1-877-4-Quadra (1-877-478-2372) Website:
www.TDbSplit.com
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