S SPLIT CORP. ISSUES WARRANTS
24 Agosto 2010 - 1:59PM
PR Newswire (Canada)
TORONTO, Aug. 24 /CNW/ -- /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/ TORONTO, Aug.
24 /CNW/ - (TSX: SBN; SBN.PR.A) - S Split Corp. (the "Fund") is
pleased to announce that it has issued to holders of its Class A
Shares, Warrants to subscribe for Class A Shares and Preferred
Shares of the Fund together in units ("Units"). Under the warrant
offering, the Fund issued one Warrant for each Class A Share of the
Fund held by holders of record on August 23, 2010. Each Warrant
entitles its holder to acquire one Unit at a subscription price of
$19.13 commencing on August 24, 2010 and ending on the expiry date
of January 17, 2011. The Warrants trade on the Toronto Stock
Exchange under the ticker symbol SBN.WT.A and will continue trading
until noon (Toronto time) on the expiry date. 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 of common shares of The Bank of Nova Scotia. 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 Sheila Szela, Vice-President,
Finance and 121 King Street West CFO Suite 2600 Toronto, Ontario,
M5H 3T9 416.681.3966; 1.800.725.7172 A member of the Mulvihill
Capital www.mulvihill.com Management Inc. Group of Funds
info@mulvihill.com 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. pInvestor Relations at 416.681.3966, toll free at
1.800.725.7172 or visit a
href="http://www.mulvihill.com"www.mulvihill.com/a./p
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