Allbanc Split Corp. II to redeem 6.646% of preferreds on Feb. 28

By Marisa Wong

Morgantown, W.Va., Feb. 15 – Allbanc Split Corp. II announced it called 34,908 preferred shares, or 6.646% of its outstanding preferred shares, for redemption on Feb. 28.

The preferreds will be redeemed on a pro rata basis at a price of C$25.67 per share.

The redemption is due to a special annual retraction of 69,816 capital shares by holders.

According to a company announcement, holders of a further 36,100 capital shares and 18,050 preferred shares have deposited their shares for concurrent retraction on Feb. 28. As a result, a total of 105,916 capital shares and 52,958 preferred shares, or 9.748% of both classes of shares currently outstanding, will be redeemed.

Allbanc is a Toronto-based mutual fund corporation created to hold a portfolio of publicly listed common shares of selected Canadian chartered banks.

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