US Financial 15 Split Corp. Announces Intention to Commence Normal Course Issuer Bid for Preferred and Class A Shares
04 Marzo 2014 - 8:00AM
Marketwired
US Financial 15 Split Corp. Announces Intention to Commence Normal
Course Issuer Bid for Preferred and Class A Shares
TORONTO, ONTARIO--(Marketwired - Mar 4, 2014) - US Financial 15
Split Corp. (the "Company") announced that it intends to launch a
Normal Course Issuer Bid (the "NCIB") to purchase its Preferred
Shares and Class A Shares through the facilities of the Toronto
Stock Exchange (the "TSX"), subject to TSX acceptance. The Company
intends to file a notice of intention with the TSX in this
regard.
Pursuant to the
NCIB, the Company proposes to purchase, from time to time, if it is
considered advisable, up to 443,873 Preferred Shares and 443,873
Class A Shares of the Company, representing approximately 10% of
the public float of the Preferred Shares and the Class A Shares. As
of February 24, 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 88,775 Preferred Shares or more than 88,775 Class A Shares,
being approximately 2% of the issued and outstanding Preferred
Shares and Class A Shares as of February 24, 2014. In the previous
12-month period, the Company did not repurchase any Shares through
a NCIB.
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 Relations416-304-4443 or
Toll Tree 1-877-4-Quadra (1-877-478-2372)www.financial15.com
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