/EINPresswire.com/ -- TORONTO, ONTARIO--(Marketwired - Dec 5, 2016) - 5Banc Split Inc. (the "Company") (TSX:FBS.B)(TSX:FBS.PR.C) announced today that in connection with the previously announced upcoming maturity of the fund on December 15, 2016, 1,077,529 Class C Preferred Shares and 1,077,529 Class B Capital Shares have been tendered for redemption on December 15, 2016. The redemption price paid for the Class C Preferred Shares will be $10.00 per Class C Preferred Share, and the redemption price for the Class B Capital Shares will be $27.51 per Class B Capital Share.

Holders of Class B Capital Shares tendered 136,043 Class B Capital Shares (representing approximately 12.63% of the outstanding Class B Capital Shares), together with a cash amount of $10.00 per Class B Capital Share tendered (together, a "5Banc Split Unit"), in exchange for the holder's pro rata share of the Company's shares of Toronto Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Montreal.

Payments of cash and delivery of the underlying portfolio shares owing to shareholders as a result of the final redemptions will be made by the Company on December 15, 2016.

The Company was established to generate dividend income for the Class C Preferred Shares while providing holders of the Class B Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of common shares of Toronto Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and Bank of Montreal. Information concerning 5Banc Split Inc. is available on our website at www.timbercreek.com/investments/managed-companies/5banc-split-inc/overview.

The Class B Capital Shares and Class C Preferred Shares of 5Banc Split Inc. are listed on the Toronto Stock Exchange under the symbols FBS.B and FBS.pr.C respectively.