Life & Banc Split Corp. Announces Preferred Share Offering

(TSX: LBS) (TSX: LBS.PR.A) Life & Banc Split Corp. (the “Fund”) is pleased to announce it is undertaking a treasury offering of preferred shares (“Preferred Shares”) (the “Offering”).

The sales period for this offering is expected to end on Tuesday, July 7, 2026.  The offering is expected to close on or about July 14, 2026 and is subject to certain closing conditions including approval by the Toronto Stock Exchange (“TSX”).

The Preferred Shares will be offered at a price of $10.55 per Preferred Share to yield 6.9%.⁽¹⁾ The closing price on the TSX for the Preferred Shares on July 3, 2026 was $10.64. The offering is being led by RBC Capital Markets.

The investment objectives for the Preferred Shares are to provide holders with fixed cumulative preferential quarterly cash distributions, in the amount of $0.18125 per Preferred Share (7.25% per annum on the original $10.00 issue price), and to return the original issue price to holders of Preferred Shares on October 30, 2028. 

The Fund has declared aggregate dividends on the Preferred Shares of $10.73 per Preferred Share, representing 79 consecutive quarterly dividends since inception on October 17, 2006 to June 30, 2026.  Purchasers of Preferred Shares in this Offering will be eligible to receive the full September 2026 quarterly dividend of $0.18125 per Preferred Share when the dividend is declared.

Based on the most recently calculated net asset value per unit of the Fund on July 2, 2026, the Preferred Shares have downside protection from a decline in the value of the Fund’s portfolio of approximately 58%. The Preferred Shares are rated Pfd-3 by Morningstar DBRS.

The Fund invests on an approximately equally weighted basis, in a portfolio (the “Portfolio”) consisting of common shares of the six largest Canadian banks and the four major publicly traded Canadian life insurance companies:

About Brompton Funds

For over 25 years, Brompton has been providing unique, well-conceived investments for Canadians, with a focus on low management fees, performance driven diversification strategies and attractive income and growth solutions for various market cycles. For further information, please contact your investment advisor, call Brompton’s investor relations line at 416-642-6000 (toll-free at 1-866-642-6001), email [email protected] or visit our website at www.bromptongroup.com.

A short form base shelf prospectus containing important detailed information about the securities being offered has been filed with securities commissions or similar authorities in each of the provinces and territories of Canada. Copies of the short form base shelf prospectus may be obtained from a member of the syndicate. The Fund intends to file a supplement to the short form base shelf prospectus, and investors should read the short form base shelf prospectus and the prospectus supplement before making an investment decision. There will not be any sale or any acceptance of an offer to buy the securities being offered until the prospectus supplement has been filed with the securities commissions or similar authorities in each of the provinces and territories of Canada.

Annualized yield on offer price. See Performance table below.

Returns are for the periods ended June 30, 2026, and are unaudited. Inception date October 17, 2006. The table shows the compound return on a Preferred Share. Past performance does not necessarily indicate how the Preferred Shares will perform in the future. The information shown is based on the redemption price per Preferred Share and assumes that cash distributions made by the Fund on the Preferred Shares during the periods shown were reinvested at the redemption price per Preferred Share in additional Preferred Shares of the Fund.

You will usually pay brokerage fees to your dealer if you purchase or sell shares of the Fund on the TSX or other alternative Canadian trading system (an “exchange”).  If the shares are purchased or sold on an exchange, investors may pay more than the current net asset value when buying shares of the Fund and may receive less than the current net asset value when selling them.

There are ongoing fees and expenses associated with owning shares of an investment fund.  An investment fund must prepare disclosure documents that contain key information about the fund.  You can find more detailed information about the Fund in its public filings available at www.sedarplus.ca. The indicated rates of return are the historical annual compounded total returns including changes in share value and reinvestment of all distributions and does not take into account sales, redemption, distribution or optional charges or income tax payable by any securityholder that would have reduced returns. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated.

Source : Brompton Life & Banc Split Corp

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