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M Split Corp.
is a corporation investing in common shares of Manulife Financial Corp., a
leading Canadian based Global Financial Services company offering financial
products and wealth management services. To view the December 23, 2009
Information Circular which outlines details of the Capital Reorganization
completed on March 23, 2010, please
click here.
Objectives
Class I Preferred Shares
(XMF.PR.B):
To provide holders with fixed, cumulative
preferential monthly dividends to yield 7.50% per annum on the $5
notional
issue price and having a repayment objective on December 1, 2014 of
$5.00.
Class II Preferred Shares
(XMF.PR.C):
To provide holders with monthly dividends to yield 7.50% per annum on the $5
notional
issue price if and when the net asset value per Unit exceeds $12.50 and
having a repayment objective on December 1, 2014 of $5.00.
Capital Shares (XMF.A):
To participate in any net asset value growth over $10.00 per Unit and
dividends would be reinstated only if and when the net asset value per
Unit exceeds $15.00. The dividend rate on the Capital Shares will be set
by the Board of Directors of the Company at its discretion, based on
market conditions. No dividend payments will be made on the Capital
Shares unless all dividends on the Class I Preferred Shares and, if
applicable, Class II Preferred Shares have been declared and paid.
2011 Warrant
Each 2011 Warrant (Symbol: XMF.WT) can be exercised to purchase one Unit
for an exercise price of $10.00 per Unit at specified times until
February 28, 2011.
2012 Warrant
Each 2012 Warrant (Symbol: XMF.WT.A) can be exercised to purchase one
Unit for an exercise price of $12.50 per Unit at specified times until
February 28, 2012.
| Class I Preferred Share
Highlights |
Class II Preferred Share
Highlights |
Capital Share Highlights |
Fixed, cumulative monthly
distributions
Quality investment in a leading Global Financial Institution
Attractive alternative to other income vehicles
Tax efficient distributions
Strong downside protection and asset coverage
Non-Callable
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Monthly
distributions if and when NAV exceeds $12.50 per unit
Quality investment in a leading Global Financial Institution
Attractive alternative to other income vehicles
Tax efficient distributions
Non-Callable
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Monthly
distributions if and when NAV exceeds $15.00 per unit
Quality investment in a leading Global Financial Institution
Capital appreciation potential |
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