PrefBlog

B Split II Corporation is no longer part of the HIMIPref™ universe (BXN.PR.A was tracked until its redemption 2005-6-2) but I’ll post the following announcement anyway:

B Split II Corp. (the “Company”) announced today that it has called 804,057 Preferred Shares for cash redemption on June 1, 2007 (in accordance with the Company’s Articles) representing approximately 3.514% of the outstanding Preferred Shares as a result of the special annual retraction of 845,121 Capital Shares by the holders thereof. The Preferred Shares shall be redeemed on a pro rata basis, so that each holder of Preferred Shares of record on May 31, 2007 will have approximately 43.514% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $9.75 per share.

…

B Split II Corp. is a mutual fund corporation created to hold a portfolio of common shares of BCE Inc. Capital Shares and Preferred Shares of B Split II Corp. are listed for trading on The Toronto Stock Exchange under the symbols BXN and BXN.PR.B respectively.

Now that the Capital units have finally shown some gains, I suppose a lot of holders wanted to lock them in!

This entry was posted on Thursday, May 17th, 2007 at 10:52 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.