The Toronto Stock Exchange reports that E Split Corp.'s board of directors has approved an extension of the maturity date of the Class A shares and preferred shares of the company for an additional five-year term to June 30, 2028. According to the TSX, holders of the Class A shares and preferred shares of the company can elect to have their shares retracted for a cash amount as follows:

• For Class A shares, the greater of: (i) the net asset value per unit (each unit comprising one preferred share and one Class A share) on that date minus the sum of $10 plus any accrued and unpaid distributions on a preferred share; and (ii) nil;
• For preferred shares, the lesser of: (i) $10 plus any accrued and unpaid distributions thereon; and (ii) the net asset value of the company on that date divided by the total number of preferred shares then outstanding.

The election deadline is 5 p.m. Toronto time on May 31, 2023. As the Class A shares and preferred shares are held in book-entry-only form, CDS Clearing and Depository Services Inc. is the sole registered holder of the Class A shares and preferred shares. Shareholders should contact their broker, dealer, bank trust company or other nominee as soon as possible to confirm their deadline and for instructions on how to exercise the special retraction right, if they desire to do so. Shareholders who do not elect to exercise their special retraction right prior to the deadline set by their broker, dealer, bank, trust company or other nominee will retain their investment in the company.

The TSX notes that in order to maintain the same number of Class A shares and preferred shares outstanding, the company may redeem the Class A shares or preferred shares on a pro rata basis to the extent that more preferred shares than Class A shares or more Class A shares than preferred shares, as the case may be, are retracted under the special retraction right. The TSX will issue a further bulletin if the company will redeem preferred shares or Class A shares, as the case may be.

According to the TSX, trades on May 30, 2023, will settle on May 31, 2023, and trades from 9:30 a.m. Toronto time to 12 p.m. Toronto time on May 31, 2023, will settle on the same day. Purchase orders must be specifically entered as cash for the purpose of exercising the special retraction right. Orders not specifically entered as cash will settle on a regular basis.

For more information, see the company's news release dated April 26, 2023, and its prospectus dated June 14, 2018, available on SEDAR.