TORONTO, Oct. 25, 2018 (GLOBE NEWSWIRE) -- Big 8 Split Inc. (the “Company”) announced today that, in accordance with the expiration of the term and as set out in the short form prospectus of the Company dated December 5, 2013 (the “Prospectus”), the Company will redeem all outstanding Class D Preferred Shares and Class D Capital Shares (collectively, the “Shares”) on December 15, 2018 (the “Redemption Date”) as scheduled and in accordance with their share provisions.

On the Redemption Date, in accordance with the share provisions for the Class D Preferred Shares and Class D Capital Shares (collectively, the “Shares”), holders of Class D Preferred Shares shall be entitled to receive a redemption price per share equal to the lesser of $10.00 and the Unit Value, as that term is defined in the Prospectus. Holders of Class D Capital Shares shall be entitled to receive a redemption price per share equal to the amount by which the Unit Value exceeds $10.00, or provided the holder tenders to the Company at least 20 business days prior to the Redemption Date a cash amount of $10.00 for each Class D Capital Share redeemed, such holder’s pro rata share of the shares held in the Company’s portfolio (the “Portfolio Shares”) plus (or minus) the pro rata share of the amount by which the value of the other assets of the Company exceed (or are less than) the liabilities of the Company as at the Redemption Date and the redemption value at the Class E Shares.

The Company was established to generate dividend income for the Class D Preferred Shares while providing holders of the Class D Capital Shares with a leveraged opportunity to participate in capital appreciation from a portfolio of the Portfolio Shares.  Information concerning Big 8 Split Inc. is available on our website at www.timbercreek.com/investments/managed-companies/big8-split-inc/overview. 

The Class D Capital Shares and Class D Preferred Shares of Big 8 Split are listed on the Toronto Stock Exchange under the symbols BIG.D and BIG.pr.D respectively.

Forward looking statements:

This release includes forward-looking statements regarding the Company which may include, but is not limited to, the expectations regarding the redemption prices payable and the timing of the Redemption Date. Such statements are based on the current expectations of management. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting the Company

For further information contact:

Timbercreek Asset Management Inc.
Carrie Morris
Investor Relations
cmorris@timbercreek.com