TORONTO, ONTARIO -- (Marketwire) -- 11/01/10 -- TD Split Inc. (TSX: TDS.B)(TSX: TDS.PR.B) (the "Company") announced today the redemption prices for its 712,861 Class B Preferred Shares ("Old Preferred Shares") and 712,861 Class B Capital Shares ("Old Capital Shares") currently outstanding which were called for redemption on September 29, 2010 and will be redeemed in accordance with their terms on November 15, 2010.
The Old Preferred Share redemption price is $28.10 per share, payable in cash, together with dividends thereon in the amount of $0.298563 which have been declared but remain unpaid up to but not including November 15. The Old Capital Share redemption price is $45.2674 ("Capital Share Redemption Price") per share, payable either in cash or, if a holder has previously elected, by delivery of one common share of The Toronto-Dominion Bank (TD Share) together with a cash amount equal to the holder's pro-rata share of the other net assets of the Company. Payments of the redemption prices for the Old Capital Shares and Old Preferred Shares will be made by the Company on November 15, 2010.
On October 27, 2010 the Company filed a short form prospectus for an offering of Class C Capital Shares ("New Capital Shares") and Class C Preferred Shares ("New Preferred Shares"). In conjunction with this offering, and in order to enable holders of Old Capital Shares to continue their investment in the Company, such holders were offered the opportunity to acquire New Capital Shares in satisfaction of the redemption price of their Old Capital Shares. Holders of 280,396 Old Capital Shares have so elected and they will be entitled to receive 2.5149 New Capital Shares for each Old Capital Share tendered under this exchange option. This exchange was calculated by dividing the Capital Share Redemption Price by the New Capital Share issue price of $18.00 per share. Fractional shares will not be issued.
The Company holds a portfolio of common shares of The Toronto-Dominion Bank.
The Class B Capital Shares and Class B Preferred Shares of TD Split are listed on the Toronto Stock Exchange under the symbols TDS.B and TDS.pr.B respectively. Information concerning TD Split Inc. is available on our website at www.tdsponsoredcompanies.com.
Contacts:
TD Split Inc.
Investor Relations
416-982-2680
www.tdsponsoredcompanies.com