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发表于 2011-6-1 02:23 PM
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AIC Global Financial Split Corp. Announces Completion of Termination (cnw)
TSX/NYSE/PSE : MFC
SEHK : 945
TORONTO, June 1, 2011 /CNW/ - AIC Global Financial Split Corp. (TSX: ASC/ASC.PR.A) (the "Corporation") today announced that the Corporation completed the redemption of all of its outstanding Preferred Shares and Class A Shares and terminated on May 31, 2011 (the "Termination Date"), as contemplated by the constating documents of the Corporation. In connection therewith, the Corporation redeemed each Class A Share for $.0643 per share. Preferred Shares were redeemed for $10.00 per share plus any accrued dividends. The redemption proceeds will be paid by the Corporation on or about June 6, 2011 through CDS Clearing and Depository Services Inc.
INCOME TAX CONSIDERATIONS FOR INVESTORS UPON TERMINATION OF THE CORPORATION
If shares of the Corporation were held in a registered plan, the redemption of shares on the Termination Date created a disposition for tax purposes. Capital gains from a disposition of the shares are generally not subject to tax under the Income Tax Act (Canada) (the "ITA") until withdrawals are made from the plan (withdrawals from a Tax-Free Savings Account are not subject to tax).
For Shares Not Held in a Registered Plan
If shares of the Corporation were held outside of a registered plan, the redemption of shares on the Termination Date created a disposition for tax purposes. A capital gain (or a capital loss) will be realized to the extent that the proceeds of disposition, less any costs of disposition, are greater (or less) than the adjusted cost base of the shares. Generally, one-half of a capital gain is included in computing income and one half of a capital loss (an allowable capital loss) is deductible against taxable capital gains in accordance with the provisions of the ITA.
About Manulife Investments
Manulife Investments is the brand name describing certain Canadian subsidiaries and operating divisions of Manulife Financial Corporation that offer personal wealth management products and services in Canada. As one of Canada's leading integrated financial services providers, Manulife Investments offers a variety of products and services including segregated funds, mutual funds, annuities and guaranteed investment contracts.
About Manulife Financial
Manulife Financial is a leading Canadian-based financial services group operating in 22 countries and territories worldwide. For more than 120 years, clients worldwide have looked to Manulife for strong, reliable, trustworthy and forward-thinking solutions for their most significant financial decisions. Our international network of employees, agents and distribution partners offers financial protection and wealth management products and services to millions of clients around the world. We provide asset management services to institutional customers worldwide as well as reinsurance solutions, specializing in life and property and casualty retrocession. Funds under management by Manulife Financial and its subsidiaries were $478 billion (US$492 billion) as at March 31, 2011. The Company operates as Manulife Financial in Canada and Asia and primarily as John Hancock in the United States.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com. |
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狗仔卡
发表于 2011-6-1 02:22 PM
