DREAM Unlimited Corp announced (on November 13):
that it will redeem all of its outstanding First Preference Shares, Series 1 (“Series 1 Shares”) on December 20, 2019 (the “Redemption Date”), in accordance with their terms. The Series 1 Shares will be redeemed at a price of $7.16 per share, plus all accrued and unpaid dividends from September 30, 2019 up to but excluding the Redemption Date. There are currently 4,005,729 Series 1 Shares issued and outstanding. Following the Redemption Date, the Series 1 Shares are expected to be delisted from the Toronto Stock Exchange.
The formal notice of redemption will be delivered to registered holders of the Series 1 Shares on behalf of the Corporation by Computershare Trust Company of Canada, the transfer agent and registrar for the Series 1 Shares.
From and after the Redemption Date, holders of the Series 1 Shares will cease to be entitled to dividends or to exercise any rights of shareholders in respect of the Series 1 Shares, except for the right to receive the Redemption Price for their Series 1 Shares.
Payment of the redemption amount for the Series 1 Shares will be made to registered holders of such securities on or after the Redemption Date. Beneficial holders of the Series 1 Shares should contact their financial institution, broker or other intermediary through which they hold the Series 1 Shares to confirm how they will receive their redemption proceeds.
They further announced (on December 20):
that it has redeemed all of its outstanding First Preference Shares, Series 1 (“Series 1 Shares”), in accordance with their terms. The cash redemption price for the Series 1 Shares was $7.16 per share, plus all accrued and unpaid dividends from September 30, 2019 up to and including the Redemption Date, for aggregate proceeds of $29.1 million. The Series 1 Shares have been delisted from the Toronto Stock Exchange.
DRM.PR.A came into existence as partial consideration on the exchange of DC.PR.A (the other consideration was DC.PR.C, which has had an interesting series of transitions of its own) following approval by shareholders despite my urging that exchange offer was coercive. The original ticker symbol for the issue was DBC.PR.A.
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DRM.PR.A Redeemed
DREAM Unlimited Corp announced (on November 13):
They further announced (on December 20):
DRM.PR.A came into existence as partial consideration on the exchange of DC.PR.A (the other consideration was DC.PR.C, which has had an interesting series of transitions of its own) following approval by shareholders despite my urging that exchange offer was coercive. The original ticker symbol for the issue was DBC.PR.A.
This entry was posted on Monday, December 23rd, 2019 at 9:54 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.