Global Champions Split Corp. has announced:
its intention to redeem all of its outstanding Class A Preferred Shares, Series 1 (the “Series 1 Preferred Shares”) (TSX: GCS.PR.A) for cash on August 20, 2018 the “Redemption Date”) in accordance with the terms of the Series 1 Preferred Shares.
The redemption price per Series 1 Preferred Share will be equal to C$25.25 plus accrued and unpaid dividends as of the Redemption Date of C$0.1374 per share, representing a total redemption price of C$25.3874 per Series 1 Preferred Share (the “Redemption Price”).
Notice will be delivered to holders of Series 1 Preferred Shares in accordance with the terms of the Series 1 Preferred Shares.
From and after the Redemption Date the Series 1 Preferred Shares will cease to be entitled to dividends or any other participation in any distribution of the assets of the Company and the holders thereof shall not be entitled to exercise any of their other rights as shareholders in respect thereof except to receive the Redemption Price (less any tax required to be deducted and withheld by the Company). It is expected that the Toronto Stock Exchange will halt trading on the Series 1 Preferred Shares at the opening of business on the Redemption Date and delist such Series 1 Preferred Shares at the close of business on the Redemption Date.
Although this press release was dated 2018-8-2, it does not yet appear on their website; nor is there anything on their website to suggest that anything unusual is happening with the company. The press release is available only – as far as I can tell – on SEDAR, which (as I’m sure everybody remembers) prohibits direct linking to these public documents as the Canadian Securities Administrators appear to believe that dissemination of material investment information should be made as difficult as possible. So interested parties will have to search for “Global Champions Split Corp. Aug 2 2018 17:25:19 ET News release – English PDF 309 K”
This is an appalling example of non-existent communication by the company.
The directors are the following clowns:Frank N.C. Lochan, Brian D. Lawson, John P. Barratt, James L.R. Kelly.
The following idiots are officers of the company:
- Brian D. Lawson, Chairman and President
- Adil Mawani, Chief Financial Officer
- Loretta M. Corso, Corporate Secretary
Assiduous Readers with good memories will single out the following dolts for special scorn:
- Frank N.C. Lochan
- Brian D. Lawson
- John P. Barratt
- James L.R. Kelly
… who were also directors of Partners Value Split Inc. when it did a completely shitty job of reporting to shareholders. Loretta M. Corso was also an officer of PVS at that time.
Pretty crap work, guys. Incompetent scum.
Update: DBRS discontinues rating:
DBRS Limited (DBRS) discontinued the rating on the Class A Preferred Shares, Series 1 (the Preferred Shares) issued by Global Champions Split Corp. as the Preferred Shares were fully repaid on August 20, 2018.
Update: I see the August 2 press release is now available on the company website. About time, assholes.
This entry was posted on Monday, August 20th, 2018 at 12:08 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed.
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GCS.PR.A Redeemed at 25.25 + Accrued Dividend
Global Champions Split Corp. has announced:
Although this press release was dated 2018-8-2, it does not yet appear on their website; nor is there anything on their website to suggest that anything unusual is happening with the company. The press release is available only – as far as I can tell – on SEDAR, which (as I’m sure everybody remembers) prohibits direct linking to these public documents as the Canadian Securities Administrators appear to believe that dissemination of material investment information should be made as difficult as possible. So interested parties will have to search for “Global Champions Split Corp. Aug 2 2018 17:25:19 ET News release – English PDF 309 K”
This is an appalling example of non-existent communication by the company.
The directors are the following clowns:Frank N.C. Lochan, Brian D. Lawson, John P. Barratt, James L.R. Kelly.
The following idiots are officers of the company:
Assiduous Readers with good memories will single out the following dolts for special scorn:
… who were also directors of Partners Value Split Inc. when it did a completely shitty job of reporting to shareholders. Loretta M. Corso was also an officer of PVS at that time.
Pretty crap work, guys. Incompetent scum.
Update: DBRS discontinues rating:
Update: I see the August 2 press release is now available on the company website. About time, assholes.
This entry was posted on Monday, August 20th, 2018 at 12:08 pm and is filed under Issue Comments. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.