{"id":26144,"date":"2014-08-26T20:58:15","date_gmt":"2014-08-27T01:58:15","guid":{"rendered":"http:\/\/prefblog.com\/?p=26144"},"modified":"2014-08-26T20:58:15","modified_gmt":"2014-08-27T01:58:15","slug":"dc-pr-b-will-not-be-called","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=26144","title":{"rendered":"DC.PR.B Will Not Be Called"},"content":{"rendered":"<p>Dundee Corporation <a href=\"http:\/\/www.dundeecorp.com\/pdf\/2014-08-26-convers-pref-shares.pdf\">has announced<\/a>:<\/p>\n<blockquote><p>that it does not intend to exercise its right to redeem any currently outstanding cumulative 5\u2010year rate reset first preference shares, series 2 (the \u201cSeries 2 Shares\u201d) on September 30, 2014 and, as a result, subject to certain conditions, the holders of the Series 2 Shares have the right, at their option, to convert all or part of their Series 2 Shares on a one for one basis into Cumulative Floating Rate First Preference Shares, Series 3 (the \u201cSeries 3 Shares\u201d) as at September 30, 2014. Holders who do not exercise their right to convert their Series 2 Shares into Series 3 Shares will retain their Series 2 Shares, unless automatically converted in accordance with the conditions below.<\/p>\n<p>The foregoing conversions are subject to the conditions that: (i) if, after September 15, 2014, the Company determines that there would be less than 500,000 Series 2 Shares outstanding on September 30, 2014, then all remaining Series 2 Shares will automatically be converted into an equal number of Series 3 Shares on September 30, 2014, and (ii) alternatively, if the Company determines that there would be less than 500,000 Series 3 Shares outstanding on September 30, 2014, no Series 2 Shares will be converted into Series 3 Shares. In either case, Dundee will give written notice to that effect to holders of the Series 2 Shares affected by the preceding minimums on or before September 23, 2014.<\/p>\n<p>The dividend rate applicable to the Series 2 Shares for the 5\u2010year period commencing on September 30, 2014 to, but excluding September 30, 2019, and the dividend rate applicable to the Series 3 Shares for the 3\u2010month period commencing on September 30, 2014 to, but excluding December 31, 2014, will be determined and announced by way of a news release on September 2, 2014.<\/p>\n<p>Beneficial owners of Series 2 Shares who wish to exercise their right of conversion should instruct their broker or other nominee to exercise such right before 5:00 p.m. (EDT) on September 15, 2014. Instructions of conversion are irrevocable.<\/p>\n<p>Beneficial owners should direct any conversion inquiries to their broker or Dundee\u2019s Registrar and Transfer Agent, Computershare Investor Services Inc., at 1\u2010800\u2010564\u20106253.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Dundee Corporation has announced: that it does not intend to exercise its right to redeem any currently outstanding cumulative 5\u2010year rate reset first preference shares, series 2 (the \u201cSeries 2 Shares\u201d) on September 30, 2014 &hellip;<\/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-26144","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26144","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=26144"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/26144\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26144"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26144"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26144"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}