Brompton Split Banc Corp. Announces Increase In Net Asset Value To $15.91 Per Share.TORONTO -- Brompton Split Banc Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :SBC (1) (SBC Communications Inc., San Antonio, TX, www.sbc.com) A large, national telecommunications company that grew from a multitude of local and regional companies, including Southwestern Bell, Pacific Bell and Nevada Bell, into a single, unified brand by 2002. )(TSX:SBC.PR.A) is pleased to announce that the net asset value per Class A share has increased by 16% since inception on November 16, 2005 to $15.91 as at March 21, 2006. At the same time, Class A shareholders have received the benefit of high monthly cash distributions of $0.10 per share per month. Since inception, both the Class A and Preferred Shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. have traded at an average premium to net asset value of 4.7% and 7.7% respectively. As a result, the Fund filed a final prospectus Final Prospectus A legal document stating the price of a newly issued security, the delivery date, and other facts that are important for investors. Notes: The final prospectus must be given to every investor who purchases a new issue of registered securities. related to a Rights Offering available to all Class A shareholders of record on March 13, 2006. Each Class A shareholder received one Right for each Class A share held. One Right entitles the holder to purchase a Unit, consisting of one Class A share and one Preferred share for $26.10 on or before April 10, 2006, the expiry date. The Rights are currently trading on the TSX under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors SBC.RT. During the Rights Offering period, the Class A share trade volumes may increase and there may be opportunities to purchase Class A shares at a relative discount to their historic trade values due to investors hedging their positions. Hence, during the Rights Offering period, a buying opportunity may be available to those investors looking to gain leveraged exposure on a low cost basis to the performance of the Canadian "big six" banks at attractive prices. Brompton Split Banc Corp. is also pleased to announce that a distribution in the amount of $0.13125 per Preferred share will be paid on April 17, 2006 to shareholders of record on March 31, 2006. The Preferred shares are rated Pfd-2 by Dominion Bond Rating Service Dominion Bond Rating Service is a credit rating agency based in Toronto, Ontario. Founded in 1976, it is one of the largest credit rating agencies in Canada. It is one of five Nationally Recognized Statistical Rating Organizations in the United States, though significantly smaller Limited. For further information, please contact your financial advisor, call our investor relations line at 416-642-9051 (toll free at 1-866-642-6001) or visit our website at www.bromptongroup.com. Commissions, trailing commissions, management fees and expenses all may be associated with investment funds. Please read the fund's publicly filed documents which are available from SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review at www.sedar.com. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Brompton Split Banc Corp. (TSX:SBC) (TSX:SBC.PR.A) |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion