DC.PR.B Will Not Be Called

Dundee Corporation has announced:

that it does not intend to exercise its right to redeem any currently outstanding cumulative 5‐year rate reset first preference shares, series 2 (the “Series 2 Shares”) on September 30, 2014 and, as a result, subject to certain conditions, the holders of the Series 2 Shares have the right, at their option, to convert all or part of their Series 2 Shares on a one for one basis into Cumulative Floating Rate First Preference Shares, Series 3 (the “Series 3 Shares”) as at September 30, 2014. Holders who do not exercise their right to convert their Series 2 Shares into Series 3 Shares will retain their Series 2 Shares, unless automatically converted in accordance with the conditions below.

The foregoing conversions are subject to the conditions that: (i) if, after September 15, 2014, the Company determines that there would be less than 500,000 Series 2 Shares outstanding on September 30, 2014, then all remaining Series 2 Shares will automatically be converted into an equal number of Series 3 Shares on September 30, 2014, and (ii) alternatively, if the Company determines that there would be less than 500,000 Series 3 Shares outstanding on September 30, 2014, no Series 2 Shares will be converted into Series 3 Shares. In either case, Dundee will give written notice to that effect to holders of the Series 2 Shares affected by the preceding minimums on or before September 23, 2014.

The dividend rate applicable to the Series 2 Shares for the 5‐year period commencing on September 30, 2014 to, but excluding September 30, 2019, and the dividend rate applicable to the Series 3 Shares for the 3‐month period commencing on September 30, 2014 to, but excluding December 31, 2014, will be determined and announced by way of a news release on September 2, 2014.

Beneficial owners of Series 2 Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (EDT) on September 15, 2014. Instructions of conversion are irrevocable.

Beneficial owners should direct any conversion inquiries to their broker or Dundee’s Registrar and Transfer Agent, Computershare Investor Services Inc., at 1‐800‐564‐6253.

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