NB Split Corp.

NB Split Corp.

December 15, 2009 08:00 ET

NB Split Corp. Announces Partial Redemption of Preferred Shares

TORONTO, ONTARIO--(Marketwire - Dec. 15, 2009) - NB Split Corp. (the "Company") (TSX:NBF) (TSX:NBF.PR.A) announced today that in accordance with the Company's articles, it will redeem 324,208 Preferred Shares on December 24, 2009 at a price of $32.72 per Preferred Share for payment on December 29, 2009 as a result of the special annual retraction of Capital Shares by the holders thereof. The Preferred Shares shall be redeemed on a pro rata basis by CDS in accordance with its participants' policies and procedures. In aggregate approximately 28.57% of the Company's Preferred Shares will be redeemed.

Following the redemption of the Preferred Shares, and other Capital Shares and Preferred Shares tendered pursuant to the special annual retraction, there will remain approximately 1,621,490 Capital Shares and approximately 810,745 Preferred Shares outstanding, for an approximate net asset value of the Company of approximately $50 million, based on the current value of the National Bank shares.

Contact Information

  • NB Split Corp.
    Investor Relations
    416-642-1289 or 1-877-642-1289