5Banc Split Inc.

5Banc Split Inc.

December 01, 2008 16:31 ET

5Banc Split Inc. Announces Partial Call for Redemption

TORONTO, ONTARIO--(Marketwire - Dec. 1, 2008) - 5Banc Split Inc. (TSX:FBS.B)(TSX:FBS.PR.B)announced today that it has called 62,264 Preferred Shares for cash redemption on December 15, 2008 representing approximately 0.5% of the outstanding Preferred Shares as a result of holders of 62,264 Capital Shares exercising their special annual retraction rights. The Preferred Shares shall be redeemed on a pro rata basis, so that holders of record of Preferred Shares on the close of business on December 12, 2008 will have approximately 0.5% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $10.00 per share. Holders of Preferred Shares that have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to and including December 15, 2008.

In addition, holders of a further 423,722 Preferred and Capital Shares have deposited such shares concurrently for retraction on December 15, 2008. As a result, a total of 485,986 Preferred and Capital Shares, or approximately 4% of both classes of shares currently outstanding will be redeemed.

Payment of the amount due to retracting shareholders will be made by the Company on December 15, 2008. From and after December 16, 2008 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.

5Banc Split generates dividend income for the holders of Preferred Shares and provides holders of the Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and The Toronto-Dominion Bank.

Information concerning 5Banc Split Inc. is available on our website at www.tdsponsoredcompanies.com.

The Capital Shares and Preferred Shares of 5Banc Split are listed on the Toronto Stock Exchange under the symbols FBS.B and FBS.PR.B respectively.

Contact Information

  • 5Banc Split Inc.
    Investor Relations
    (416) 982-2865