M-Split Corp.

M-Split Corp.

March 02, 2009 16:11 ET

M Split Corp.:Announces Normal Course Issuer Bid For Priority Equity Shares and Class A Shares

TORONTO, ONTARIO--(Marketwire - March 2, 2009) - M Split Corp. (the "Fund") 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 433,384 Priority Equity Shares and 433,384 Class A Shares of the Fund, representing approximately 10% of the public float of the Shares. As of February 27, 2009, there are 4,369,446 Priority Equity Shares 4,369,446 Class A Shares issued and outstanding. The Fund will not purchase, in any given 30-day period, in the aggregate, more than 87,388 Priority Equity Shares or more than 87,388 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.

M 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 XMF and XMF.PR.A, respectively.

Contact Information

  • M Split Corp.
    Investor Relations
    (416) 304-4443 or Toll Free: 1-877-4-Quadra (1-877-478-2372)
    Website: www.M-Split.com