Allbanc Split to redeem preferred shares; holders put capital shares

By Ashley Montgomery

Kansas City, Kan., Feb. 15 - Allbanc Split Corp. II will redeem a total of 1,213,878 capital shares and 606,939 preferred shares on Feb. 28, the company said in a news release.

The company has called for redemption 556,939 preferred shares at C$21.80 per share in cash. The call is a result of the holders' annual retraction of 1,113,878 capital shares, the release said.

Additionally, the company said holders of another 100,000 capital shares and 50,000 preferred shares have put their shares for redemption.

The redemption represents 27.897% of the outstanding shares from both classes, the release said.

Allbanc is a mutual fund corporation based in Toronto.

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