| Could this have made DFN drop 40 cents so far today?
BMO InvestorLine has been informed of an Annual Concurrent Retraction Privilege on DIVIDEND 15 SPLIT CORP CLASS A SHARES. Annual Concurrent Retraction Valuation Date: August 31, 2022. Annual Concurrent Retraction Payment Date: On or before September 14, 2022. Terms: Instructions must be submitted under both events Option 1: Annual Retraction (Consent) (Tender 1 Class A Share & 1 Preferred Share)
To receive an amount equal to the proceeds of the sale of such shares less any applicable commission. Such amount will not be less than the applicable Preferred Share Retraction Price or the Class A Share Retraction Price, as the case may be. Option 2: Annual Retraction (Withhold Consent) (Tender 1 Class A Share & 1 Preferred Share)
To receive an amount equal to the Net Asset Value per Unit calculated as of the Retraction Date, less any related commissions and other costs (to a maximum of 1% of the Net Asset Value per Unit) related to liquidating the Portfolio to pay such redemption amount. Option 99: Do Nothing (Default)
Holder to retain security Important Notes: As per the prospectus,
Any accrued or declared and unpaid dividends payable on or before a Retraction Date in respect of shares tendered for retraction on such Retraction Date will also be paid on the Retraction Payment Date. Resale of Shares Surrendered for Retraction:
The Company has entered into an agreement dated February 25, 2004 with CIBC World Markets Inc. and Computershare whereby the Recirculation Agent has agreed to use its best efforts to find purchasers for any Preferred Shares or Class A Shares tendered for retraction prior to the relevant Retraction Payment Date, provided that the holder of the shares so tendered has not withheld consent thereto. The Company is not obligated to require the Recirculation Agent to seek such purchasers but may elect to do so. In the event that a purchaser for such shares is found in this manner, the notice of retraction will be deemed to have been withdrawn prior to the relevant Retraction Date and the shares shall remain outstanding. The amount to be paid to the holder of such shares on the relevant Retraction Payment Date will be an amount equal to the proceeds of the sale of such shares less any applicable commission. Such amount will not be less than the applicable Preferred Share Retraction Price or the Class A Share Retraction Price, as the case may be.
BMO InvestorLine requests that you direct inquiries pertaining to the offer (other than submission of instructions) to DIVIDEND 15 SPLIT CORP. Shareholders are advised to obtain independent advice and consult the offering circular regarding any possible tax consequences and for further details of the offer. Please call BMO InvestorLine on 1-888-776-6886 and provide your instructions. Faxes and/or written instructions will not be accepted. Instructions must be received prior to August 16, 2022 9:00am Eastern Standard Time (EST). Any instructions received after this time will be sent on a best effort basis only. If no instructions are received, BMO InvestorLine will take no action. BMO InvestorLine does not charge your account any commission for reorganizations or entitlements. Please allow 1-3 weeks after the expiry date for processing of Canadian issues and up to 90 days if US based. If you tender your shares to an offer, please ensure you do not place any sell orders on the position. This may result in a short position and financial losses that you may be responsible for. If you wish to place a sell order, please contact us first to ensure your original instructions can be cancelled. For offers that include a cash payment, the payment will be deposited in the account in the same currency as the currency in which the position is held in the account, which may result in exposure to a foreign currency conversion. BMO Investorline will not be responsible for any losses incurred as a result of a foreign exchange conversion. Regards,
BMO InvestorLine
The information in this letter is compiled from sources believed reliable. However, BMO InvestorLine does not ensure the accuracy, adequacy, timeliness, completeness, or fitness of the data and as such assumes no liability for any losses resulting in its use. |