Life & Banc Split Corp T.LBS

Alternate Symbol(s): LFBCF | T.LBS.PR.A

Life & Banc Split Corp. (the Fund) is a Canada-based mutual fund company. The Fund's investment objective is to provide holders of Preferred shares with fixed cumulative preferential quarterly cash distributions and to return the original issue price on the maturity date, and to provide holders of Class A shares with regular monthly cash distributions and the opportunity for capital appreciation. To achieve these objectives, the Fund invests in a portfolio comprised of common shares of approximately six Canadian banks and four publicly traded Canadian life insurance companies. The Fund also writes covered call options and cash-covered put options in respect of the portfolio to generate additional distributable income for the Fund and/or to reduce the volatility of the Fund. The Fund's investment manager is Brompton Funds Limited.

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Life & Banc Split Corp > LBS news after the bell

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Post by mousermanon Oct 28, 2023 3:25pm

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LBS news after the bell

Life & Banc to list up to 9,777,826 more shares

2023-10-27 18:06 ET - Prospectus Approved

The Toronto Stock Exchange reports that Life & Banc Split Corp. will list up to an additional 9,777,826 preferred shares at the open on Oct. 31, 2023. According to the TSX, the listing will cover preferred shares to be issued at $9.60 per preferred share, pursuant to the terms of the prospectus supplement dated Oct. 18, 2023, to the short form base shelf prospectus dated Dec. 15, 2021.

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