TORONTO, July 16, 2010 - Global 45 Split Corp. (the "Corporation") (TSX: "GFV.PR.A" and "GFV") announced today acceptance by the Toronto Stock Exchange (the "TSX") of the Corporation's Notice of Intention to make a Normal Course Issuer Bid (the "NCIB") to permit the Corporation to acquire its Preferred Shares and Class A Shares (collectively, the "Securities").
Pursuant to the NCIB, the Corporation proposes to purchase through the facilities of the TSX, from time to time, if it is considered advisable, up to 105,223 Preferred Shares and up to 105,223 Class A Shares of the Corporation, representing approximately 10% of the public float which is the same number as the Corporation's issued and outstanding Securities, being 1,052,234 Preferred Shares and 1,052,234 Class A Shares as of the date hereof. The Corporation will not purchase in any given 30-day period, in the aggregate, more than 21,044 Preferred Shares and 21,044 Class A Shares, being 2% of the issued and outstanding Securities as of the date hereof. Purchases of Securities under the NCIB may commence on July 20, 2010. The Board of Directors of First Asset Funds Inc., the manager of the Corporation, believes that such purchases are in the best interests of the Corporation and are a desirable use of the Corporation's funds. All purchases will be made through the facilities of the TSX in accordance with its rules and policies. All Securities purchased by the Corporation pursuant to the NCIB will not be cancelled and will be held for resale. The NCIB will expire on July 19, 2011.
On June 30, 2009, the Corporation announced that it was making a Normal Course Issuer Bid, which commenced July 5, 2009, to purchase up to 120,846 Preferred Shares and up to 120,846 Class A Shares through the facilities of the TSX. Under the bid, which expired on July 4, 2009, no Class A Shares nor any Preferred Shares were purchased.
For further information, please contact Rob MacNiven, Investor Relations, First Asset at 416-642-1289 or 1-877-642-1289 or visit www.firstasset.com