SL Split Corp. Confirms Final Redemption and Declares Quarterly
Dividend
TORONTO, Jan. 15, 2013 /CNW/ - The Board of Directors of
SL Split Corp. (the "Company") has today declared an ordinary
dividend of $0.3223 per Preferred
Share payable on January 31, 2013 to
holders of record at the close of business on January 29, 2013.
The Capital Shares and Preferred Shares will be
redeemed by the Company on January 31,
2013 (the "Redemption Date") in accordance with the
redemption provisions of the shares as described in the prospectus
dated October 31, 2007. The Preferred
Shares will be redeemed at the lesser of (i) $25.78; and (ii) the Unit Value.
Holders of the Capital Shares will receive an amount per share, if
any, by which the Unit Value exceeds $25.78. As at January 14, 2013 the Unit Value was $27.28.
A further press release will be issued by the Company in
connection with the redemption prices on January 30, 2013. Payment of the amounts due to
holders of Capital Shares and Preferred Shares will be made by the
Company on January 31, 2013.
SL Split Corp. is a mutual fund corporation
created to hold a portfolio of common shares of Sun Life Financial
Inc. The Company will generate a fixed quarterly dividend for the
Preferred shareholders and provide the Capital shareholders with a
leveraged investment, the value of which is linked to changes in
the market price of the Sun Life shares. Capital Shares and
Preferred Shares of SL Split Corp. are listed for trading on The
Toronto Stock Exchange under the symbols SLS and SLS.PR.A
respectively.
SOURCE SL Split Corp.