Canadian Life Companies Split Corp.: Update & Resumption of Dividends
TORONTO, ONTARIO -- (Marketwired) -- 07/08/13 -- Canadian Life
Companies Split Corp. (the "Company") is providing the following
update to its shareholders. The net asset value (NAV) of the Company
has grown over the past number of months due to increasing valuations
of its underlying portfolio of life insurance companies. The Company
invests primarily in the common shares of Manulife Financial, Sun
Life Financial, Great-West Lifeco, and Industrial Alliance. The NAV
of the Company today is approximately $14.50 ($13.68 fully diluted).
This provides an intrinsic value for the Class A shareholder (LFE) of
approximately $4.50 ($3.68 fully diluted). The Company would also
like to take this opportunity to re-iterate its dividend policy on
its Class A shares. The Company is restricted from paying dividends
on its Class A shares until the undiluted NAV reaches $15.00. When,
and if, the undiluted NAV exceeds $15.00, dividends will be
Canadian Life Companies Split Corp. is an investment fund managed and
advised by Quadravest Capital Management Inc.
Canadian Life Companies Split Corp.
416-304-4443 or toll free at 1-877-4-Quadra (1-877-478-2372)
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