DF.PR.A Term Extension Approved

Quadravest has announced:

that shareholders have voted over 99% in favor of management’s proposal at a shareholder meeting held earlier today. Management would like to sincerely thank shareholders and their advisors for this overwhelming level of support.

As more fully described in the Company’s May 13, 2013 press release and the Management Information Circular dated May 3, 2013, shareholders were asked to approve the extension of the termination date to December 1, 2019. This proposal was approved by 99.68% of the Class A Shareholders and 99.87% of the Preferred Shareholders.

The reorganization has been discussed on PrefBlog. Briefly:

  • Term extended until December 1, 2019
  • Special retraction available later this month (not critical, since shares trade above par)
  • Dividend unchanged at 0.525 (until 2019)
  • No special retraction or maturity in 2014

DF.PR.A is tracked by HIMIPref™ but is relegated to the Scraps index on credit concerns. The HIMIPref™ security code has changed from A44080 to A44081

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