Business News • MarketWire • 5Banc Split Inc. Announces Minimum Capital Share Condition has been Satisfied and Call for Redemption of Class B Preferred Shares

5Banc Split Inc. Announces Minimum Capital Share Condition has been Satisfied and Call for Redemption of Class B Preferred Shares

5Banc Split Inc. Announces Minimum Capital Share Condition has been Satisfied and Call for Redemption of Class B Preferred Shares

TORONTO, ONTARIO--(Marketwire - Nov. 16, 2011) - 5Banc Split Inc. (the "Company") (TSX:FBS.B)(TSX:FBS.PR.B) announced today that the final condition required to extend the term of the Company for an additional five years to December 15, 2016 has been satisfied as holders of approximately 76% of Class B capital shares ("Class B Capital Shares") have elected to continue their participation in the Company. Holders of Class B Capital Shares approved the extension of the term of the Company on October 7, 2011 subject to the condition that a minimum of 2,500,000 Class B Capital Shares remain outstanding after giving effect to the special retraction right (the "Special Retraction Right").

View More : http://www.marketwire.com/mw/release.do?id=1588141&sourceType=3

Releted News by marketwire

W. P. Carey Provides EUR 41 Million Build-to-Suit Financing in Croatia

CNSX-Name and Symbol Change-Hawkstone Energy Corp. (HEC)