The Toronto Stock Exchange reports that Partners Value Split Corp.'s Class AA preferred shares, Series 15, will be listed at 5:01 p.m. on March 4, 2025, for trading at the open on March 5, 2025. According to the TSX, the Series 15 shares will trade under the symbol PVS.PR.M, in Canadian dollars and with Cusip No. 70214J 82 2.

As stated in its prospectus supplement dated Feb. 27, 2025, Partners Value is issuing eight million Series 15 shares at $25 per share in a public offering that it expects to close before the open on March 5, 2025. The transfer agent and registrar is TSX Trust Company at its principal office in Montreal, and the designated market-maker is W.D. Latimer Co. Ltd.

According to the TSX, Partners Value will pay dividends on the Series 15 shares quarterly on or about March 7, June 7, Sept. 7 and Dec. 7 in each year, at an annual dividend rate of $1.2875 per Series 15 share. The initial dividend payment of 31.04 cents per Series E share will be made on or about June 7, 2025, covering the period from the closing of the offering to May 31, 2025.

The TSX reports that the Series 15 shares may be redeemed by Partners Value at any time on or after March 31, 2029, and prior to March 31, 2031, at a price, which, prior to March 31, 2030, will equal $25.50 per share, plus accrued and unpaid dividends, and which will decline by 50 cents on March 31, 2030. All Series 15 shares outstanding on the Series 15 redemption date will be redeemed for a cash amount equal to the lesser of $25, plus any accrued and unpaid dividends, and the net asset value per unit.

Notwithstanding the first sentence of the previous paragraph, the company may redeem Series 15 shares prior to March 31, 2029, for $26 per share, plus accrued and unpaid dividends, if, and will not redeem Series 15 shares prior to March 31, 2029, unless: (i) capital shares have been retracted; or (ii) there is a takeover bid for the BN shares and the board of directors of the company determines that such bid is in the best interest of the holders of the capital shares.