NewGrowth Corp. has announced:
it has called 2,960 Preferred Shares for cash redemption on June 26, 2008 (in accordance with the Company’s Articles) representing approximately 0.127% of the outstanding Preferred Shares as a result of the special annual retraction of 62,860 Capital Shares by the holders thereof. The Preferred Shares shall be redeemed on a pro rata basis, so that each holder of Preferred Shares of record on June 25, 2008 will have approximately 0.127% of their Preferred Shares redeemed. The redemption price for the Preferred Shares will be $18.25 per share.
Holders of Preferred Shares that are on record for dividends but have been called for redemption will be entitled to receive dividends thereon which have been declared but remain unpaid up to but not including June 26, 2008.
Payment of the amount due to holders of Preferred Shares will be made by the Company on June 26, 2008. From and after June 26, 2008 the holders of Preferred Shares that have been called for redemption will not be entitled to dividends or to exercise any right in respect of such shares except to receive the amount due on redemption.
NEW.PR.B is not tracked by HIMIPref™.
[…] of February 5, according to Scotia and are scheduled for full redemption June 26, 2009. There was a tiny call for redemption in June 2008, at which date there was a face value of $42.5-million in preferreds […]