CORRECTION FROM SOURCE-US Financial 15 Split Corp.: Class A Share Rebalancing
19 Giugno 2012 - 10:20PM
Marketwired
This document corrects and replaces the press release sent on June
19 at 2:12 PM ET. The number of Preferred shares was incorrectly
given as 2,707,399. The number of Preferred shares is correctly
2,207,399. The complete and corrected release follows.
US Financial 15 Split Corp. (the "Company") announces a Class A
share consolidation for all Class A shareholders of record on June
25, 2012 (the "Consolidation") that will decrease the number of
Class A shares held by each Class A shareholder. The purpose of the
share Consolidation is to maintain an equal number of Class A
shares and Preferred shares outstanding. The intrinsic value of
each investor's holdings in Class A shares will remain the same
after the Consolidation.
As a result of the successful vote to reorganize the Preferred
shares of the Company at the recent Special Meeting of Shareholders
held on April 16, 2012, both Class A shareholders and Preferred
shareholders were given a special retraction right. This special
retraction right allowed both classes of shareholders to tender one
or both classes of shares. In aggregate, there were more Preferred
shares tendered for retraction than Class A shares. Since the
Company is required to maintain an equal number of shares
outstanding for each class as per the prospectus, the Company must
decrease the Class A shares to match the number of Preferred
shares.
Immediately after payments for the May and June monthly
retraction and the special retraction right on June 19, 2012, there
will be 2,207,399 Preferred shares and 3,080,059 Class A shares
outstanding. In order to restore an equal amount of shares
outstanding for each class, Class A shareholders of record as at
June 25, 2012 will receive approximately 0.71667425851 Class A
shares for each Class A share outstanding. The decrease in shares
(Consolidation) is a non taxable event.
The impact of the Class A share Consolidation will be reflected
in the next reported net asset value per unit as at the June 22,
2012 Consolidation date. Net assets of the Company after the
retraction payments will be approximately $9.2 million.
Contacts: US Financial 15 Split Corp. Investor Relations
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
www.financial15.com
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