TORONTO, ONTARIO -- (Marketwired) -- 11/03/15 -- TD Split Inc. (TSX: TDS.C)(TSX: TDS.PR.C) (the "Company") announced today that in connection with the previously announced upcoming maturity of the fund on November 15, 2015, 968,770 Class C Preferred Shares and 799,390 Class C Capital Shares have been tendered for redemption on November 13, 2015. The redemption price paid for the Class C Preferred Shares will be $10.00 per Class C Preferred Share, and the redemption price for the Class C Capital Shares will be $28.7964 per Class C Capital Share.
In addition, holders of Class C Capital Shares tendered 169,380 Class C Capital Shares (representing approximately 17.48% of the outstanding Class C Capital Shares), together with a cash amount of $10.00 per Class C Capital Share tendered (together, a "TD Split Unit"), in exchange for the holder's pro rata share of the Company's shares of TD Bank, resulting in payment of 0.7165 TD Bank Shares per TD Split Unit.
Payments of cash and delivery of the underlying portfolio shares owing to shareholders as a result of the final redemptions will be made by the Company on November 13, 2015.
The Company was established to generate dividend income for the Class C Preferred Shares while providing holders of the Class C Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of The Toronto-Dominion Bank. Information concerning TD Split Inc. is available on our website at http://www.timbercreek.com/investments/managed-companies/td-split-inc.
The Class C Capital Shares and Class C Preferred Shares of TD Split are listed on the Toronto Stock Exchange under the symbols TDS.C and TDS.pr.C respectively.
Contacts:
Timbercreek Asset Management Inc.
Carrie Morris
Investor Relations
cmorris@timbercreek.com
