{"id":1013,"date":"2007-07-26T22:37:21","date_gmt":"2007-07-27T02:37:21","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1013"},"modified":"2007-07-26T22:37:21","modified_gmt":"2007-07-27T02:37:21","slug":"enpra-proposes-term-extension","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1013","title":{"rendered":"EN.PR.A Proposes Term Extension"},"content":{"rendered":"

Energy Split Corp. II has announced<\/a>:<\/p>\n

\n

that its Board of Directors has approved a proposal to reorganize the Company. The reorganization will permit current holders of both Capital Yield Shares and ROC Preferred Shares to extend their investment in the Company beyond the scheduled redemption date of December 16, 2007 for up to an additional 3 years. Under the proposed reorganization, holders of ROC Preferred Shares will be entitled to receive a new coupon rate which will be fixed prior to the time of the shareholder meeting described below in the context of market conditions at that time. In approving the proposal to reorganize the Company, the Board received and relied on the financial advice and recommendations of Scotia Capital Inc.
\n\u00a0\u00a0\u00a0 A special meeting of holders of Capital Yield Shares and ROC Preferred Shares will be held on October 23, 2007 to consider and vote upon the proposed reorganization. Details of the proposed reorganization will be outlined in an information circular to be prepared and delivered to holders of Capital Yield Shares and ROC Preferred Shares in connection with the special meeting and will be available on www.sedar.com<\/a>.<\/p>\n<\/blockquote>\n

It is, of course, impossible to comment meaningfully on this proposal until the “new coupon rate” has been disclosed.<\/p>\n

EN.PR.A is tracked by HIMIPref\u2122, but is not included in any of the indices due to low average volume<\/a>. There are a mere 1,209,398 shares outstanding, according to the Toronto Stock Exchange<\/a>.<\/p>\n

Term extensions this year have been approved for DFN.PR.A<\/a> and\u00a0FFN.PR.A<\/a>; the proposal for FTN.PR.A<\/a> was denied by the capital stockholders.\n<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Energy Split Corp. II has announced: that its Board of Directors has approved a proposal to reorganize the Company. The reorganization will permit current holders of both Capital Yield Shares and ROC Preferred Shares to …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1013","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1013"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1013\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}