Co-operators General Insurance Company has announced:
that it will redeem all of its 4,600,000 issued and outstanding Class E Preference Shares, Series D (the “Series D Shares”) (TSX: CCS.PR.D) effective June 30, 2014 at a price of $25.00 per Series D Share (the “Redemption Price”). The notice of redemption was mailed to registered holders on May 26, 2014.
The regular quarterly dividend of $0.453125 per Series D Share for the period from April 1, 2014 to June 30, 2014 will be paid on June 30, 2014 to holders of record on June 1, 2014. The dividend will be paid separately from the Redemption Price. The Company will not declare any further dividends on the Series D Shares.
The Series D Shares trade in the book-entry only system of CDS Clearing and Depository Services Inc. and no individual share certificates have been issued.
The Company will deposit the Redemption Price of all Series D Shares with Computershare Investor Services Inc. on or about June 27, 2014.
As of June 30, 2014, the Series D Shares in respect of which such deposit shall have been made shall be redeemed and the rights of the holders thereof after June 30, 2014 shall be limited to receiving, without interest, their proportionate part of the total Redemption Price so deposited.
Inquiries relating to the redemption payment may be directed to Computershare Investor Services Inc., 100 University Ave., 8th Floor, Toronto, ON M5J 2Y1, Attention: Corporate Actions, tel: 1 (800) 564-6253.
No surprises here. CCS.PR.D is a FixedReset, 7.25%+521, which commenced trading 2009-5-22 after being announced 2009-5-6. Plus Five Twenty One! It will be a while before we see that again!
This entry was posted on Tuesday, May 27th, 2014 at 9:09 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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CCS.PR.D To Be Redeemed
Co-operators General Insurance Company has announced:
No surprises here. CCS.PR.D is a FixedReset, 7.25%+521, which commenced trading 2009-5-22 after being announced 2009-5-6. Plus Five Twenty One! It will be a while before we see that again!
This entry was posted on Tuesday, May 27th, 2014 at 9:09 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.