World Financial Split Corp. files final prospectus for Warrant offering
12 Agosto 2010 - 12:12PM
PR Newswire (Canada)
TORONTO, Aug. 12 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Aug.
12 /CNW/ - (TSX: WFS; WFS.PR.A) - World Financial Split Corp. (the
"Fund") is pleased to announce that it has filed a final short form
prospectus relating to an offering of Warrants to holders of its
Class A Shares. Each Class A shareholder of record on August 23,
2010 will receive one Warrant for each Class A Share held. Each
Warrant will entitle its holder to acquire one Class A Share and
one Preferred Share upon payment of the subscription price of
$11.43. The Toronto Stock Exchange has conditionally approved the
listing of the Warrants under the symbol WFS.WT.A and the Class A
Shares and the Preferred Shares issuable upon the exercise thereof.
It is expected that the Warrants will commence trading on August
19, 2010 and will remain trading until noon (Toronto time) on the
expiry date of January 17, 2011. The exercise of Warrants by
holders will provide the Fund with additional capital that can be
used to take advantage of attractive investment opportunities and
is also expected to increase the trading liquidity of the Class A
Shares and the Preferred Shares and to reduce the management
expense ratio of the Fund. The Fund invests in a portfolio that
includes common equity securities selected from the ten largest
financial services companies by market capitalization in each of
Canada, the United States and the rest of the world (the "Portfolio
Universe"). In addition, up to 20% of the NAV of the Fund may be
invested in common equity securities of financial services
companies that are not in the Portfolio Universe but meet certain
market capitalization and credit rating thresholds. To generate
additional returns above the distributions earned on its
securities, the Fund may, from time to time, write covered call
options in respect of some or all of the securities in its
portfolio. The Fund may also, from time to time, write cash-covered
put options in respect of securities in which the Fund is permitted
to invest. The Fund's investment portfolio is managed by its
investment manager, Mulvihill Capital Management Inc. John
Mulvihill, President and CEO Mulvihill Structured Products David
Roode, President, Fund Services 121 King Street West John Germain,
Senior Vice-President Suite 2600 Sheila Szela, Vice-President,
Finance Toronto, Ontario, M5H 3T9 and CFO 416.681.3966;
1.800.725.7172 www.mulvihill.com info@mulvihill.com A member of the
Mulvihill Capital Management Inc. Group of Funds This offering is
only made by prospectus. The prospectus contains important detailed
information about the securities being offered. Copies of the
prospectus may be obtained from Mulvihill Fund Services Inc. at the
address, telephone numbers, website and e-mail address set forth
above. Investors should read the prospectus before making an
investment decision. Commissions, trailing commissions, management
fees and expenses all may be associated with mutual fund
investments. Please read the prospectus before investing. Mutual
funds are not guaranteed, their values change frequently and past
performance may not be repeated. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy
securities in the United States, nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful. The securities of the Fund have not been
registered under the U.S. Securities Act of 1933 or any state
securities laws and may not be offered or sold in the United States
or to a U.S. person absent registration or an applicable exemption
from the registration requirements. Investor Relations at
416.681.3966, toll free at 1.800.725.7172 or visit
www.mulvihill.com
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