US Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid
2014年3月13日 - 12:22AM
Marketwired
US Financial 15 Split Corp. Announces TSX Acceptance of Normal
Course Issuer Bid
TORONTO, ONTARIO--(Marketwired - Mar 12, 2014) - US Financial 15
Split Corp. (the "Company") announced today that the Toronto Stock
Exchange (the "TSX") has accepted its notice of intention to make a
Normal Course Issuer Bid (the "NCIB") to purchase its Preferred
Shares and Class A Shares through the facilities of the TSX. The
NCIB will commence on March 14, 2014 and terminate on March 13,
2015.
Pursuant to the
NCIB, the Company proposes to purchase, from time to time, if it is
considered advisable, up to 434,781 Preferred Shares and 434,781
Class A Shares of the Company, representing approximately 10% of
the public float of 4,347,816 Class A Shares. As of March 6, 2014,
there were 4,438,725 Preferred Shares and 4,438,725 Class A Shares
issued and outstanding. The Company will not purchase, in any given
30-day period, in the aggregate, more than 88,774 Preferred Shares
or more than 88,774 Class A Shares, being 2% of the issued and
outstanding Preferred Shares and Class A Shares as of March 6,
2014. Under a normal course issuer bid that commenced on February
12, 2013 and terminated on February 11, 2014, the Company did not
repurchase any securities.
The Board of
Directors of the Company, on the advice of Quadravest Capital
Management Inc., the Company's investment manager, believes that
such purchases are in the best interests of the Company 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 Preferred Shares or Class A Shares purchased by the
Company pursuant to the NCIB will be cancelled.
US Financial 15
Split Corp. is an investment fund managed and advised by Quadravest
Capital Management Inc. The Preferred Shares and Class A Shares of
the Company are listed in the Toronto Stock Exchange under the
symbols FTU.PR.B and FTU respectively.
Certain statements
included in this news release constitute forward-looking
statements, including, but not limited to, those identified by the
expressions "expect", "intend", "will" and similar expressions to
the extent they relate to the Company. The forward-looking
statements are not historical facts but reflect the Company's
current expectations regarding future results or events. These
forward-looking statements are subject to a number of risks and
uncertainties that could cause actual results or events to differ
materially from current expectations. Although the Company believes
that the assumptions inherent in the forward-looking statements are
reasonable, forward-looking statements are not guarantees of future
performance and, accordingly, readers are cautioned not to place
undue reliance on such statements due to the inherent uncertainty
therein. The Company undertakes no obligation to update publicly or
otherwise revise any forward-looking statement or information
whether as a result of new information, future events or other such
factors which affect this information, except as required by
law.
US Financial 15 Split Corp.Investor Relations416-304-4443Toll
Free: 1-877-4-Quadra (1-877-478-2372)www.financial15.com
US Financial 15 Split (TSX:FTU.PR.B)
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