Top 10 Split Trust to partially redeem preferreds, extend fund

Chicago, March 23 – Top 10 Split Trust will effect a partial redemption of its preferred securities to maintain an equal number of preferred securities and capital units of the fund outstanding, according to a press release.

The fund is being extended fives year to March 31, 2026.

There is a special retraction right granted to securityholders in connection with the extension of the fund and 195,982 preferreds and 418,542 capital units were surrendered for retraction.

In order to maintain an equal number of preferreds and capital units, the fund will redeem 222,560 preferreds on a pro rata basis from all holders of record of preferred securities on March 31.

The amount being redeemed represents approximately 21.725% of the 1,024,436 preferred securities outstanding before the pre-special retraction right.

Each preferred security will be redeemed at $12.50 (or par) plus unpaid interest.

Questions can be directed to Top 10 Split Trust investor relations (800 725-7172).

The trust invests exclusively in shares of the six largest Canadian banks and the four largest Canadian life insurance companies and is managed by Toronto-based Mulvihill Capital Management Inc.

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