XTD TDb Split Corp

TDb Split Corp. ("the Company") was created to provide exposure to the common
shares of Toronto Dominion Bank ("TD Bank") through two classes of securities,
the Priority Equity Shares and the Class A Shares (a "Unit"). As stated in the
prospectus, holders of the Priority Equity Shares are to be provided with a
stable yield and downside protection on the return of their initial investment.
Class A Shares are to be provided with leveraged exposure to TD Bank common
shares including both increases and decreases in the value of the common shares
of TD Bank and the benefit of any increases in the dividends paid by TD Bank on
its common shares.


Since inception of the Company on August 7, 2007 the price of TD Bank common
shares traded from $69.03 and descended to a low of $32.80 in mid February 2009.
This sharp decline in TD Bank had resulted in the Company's net asset value
being reduced significantly and as mentioned in previous updates, had required
the Company to implement the Priority Equity Portfolio Protection Plan (the
"Plan") in accordance with the prospectus. As a result of implementing the Plan,
the Company had been required to sell a significant amount of the TD Bank common
shares held in the Portfolio and acquire fixed income securities. Since the
February 2009 lows, TD Bank common shares have had a significant price
appreciation allowing the Company to greatly increase the common shares held
within the Portfolio and unwind the Plan. The Company's total net asset value is
approximately $12.70 per unit as at August 25, 2009 and is now predominately
invested in TD Bank common shares.


The portfolio is continually rebalanced and adjusted based on market conditions
to provide both security for Priority Equity shareholders and upside potential
for Class A shareholders. The Company may buy or sell additional shares of TD
Bank, and/or option positions based on market conditions and provided that the
Company remains in compliance with the Priority Equity Portfolio Protection
Plan.

TDb Split (TSX:XTD)
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TDb Split (TSX:XTD)
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De Jun 2023 a Jun 2024