TORONTO, ONTARIO -- (Marketwire) -- 12/17/10 -- Manulife Asset Management Limited, the manager (the "Manager") of AIC Global Financial Split Corp. (TSX: ASC)(TSX: ASC.PR.A) (the "Corporation"), today announced that it intends to extend the termination date of the Corporation which is currently set for May 31, 2011 for another five years, with a new termination date scheduled to be on May 31, 2016.
The proposed extension would provide securityholders the potential to benefit from a more complete market recovery of the Corporation's Net Asset Value.
A special meeting of holders of the Class A Shares and Preferred Shares of the Corporation will be held to consider and vote upon the extension. Further details of the extension will be outlined in a management information circular to be prepared and delivered to holders of the Class A Shares and Preferred Shares in connection with the special meeting. Such extension would be subject to any required regulatory approvals.
The Manager also announced that a quarterly cash distribution in the amount of $0.13125 per Preferred Share of the Corporation will be paid on January 13, 2011 to Preferred shareholders of record as of December 31, 2010.
A shareholder that has continually held shares since inception will have received a total of $5.542 per Class A Share and $3.456 per Preferred Share respectively as of payment date.
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 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. 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 Cdn$474 billion (US$460 billion) as at September 30, 2010. 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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