{"id":43402,"date":"2022-05-09T20:39:56","date_gmt":"2022-05-10T01:39:56","guid":{"rendered":"https:\/\/prefblog.com\/?p=43402"},"modified":"2022-05-09T20:39:56","modified_gmt":"2022-05-10T01:39:56","slug":"efn-pr-i-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=43402","title":{"rendered":"EFN.PR.I To Be Redeemed"},"content":{"rendered":"<p>Element Fleet Management Corp. <a href=\"https:\/\/www.globenewswire.com\/news-release\/2022\/05\/09\/2439145\/0\/en\/Element-Reports-Strong-First-Quarter-Results-Raises-2022-Revenue-Earnings-Cash-Flow-Guidance.html\">has announced<\/a> (but not yet on their website):<\/p>\n<blockquote><p><b>Preferred Share Redemption<\/b><\/p>\n<p>The Company also announced today its intention to redeem \u2013 in accordance with the terms of the Cumulative 5-Year Minimum Rate Reset Preferred Shares, Series I (the \u201cSeries I Shares\u201d) as set out in the Company\u2019s articles \u2013 all of its 6,000,000 issued and outstanding Series I Shares on June 30, 2022 (the \u201cRedemption Date\u201d) for a redemption price equal to $25.00 per Series I Share, together with all accrued and unpaid dividends up to but excluding the Redemption Date (the \u201cRedemption Price\u201d), less any tax required to be deducted and withheld by the Company.<\/p>\n<p>The Company\u2019s Board of Directors has declared a dividend of $0.3593750 per Series I Share payable on the Redemption Date to holders of record as of the close of business on June 15, 2022. This will be the final quarterly dividend on the Series I Shares, although holders will receive on redemption of the Series I Shares all accrued and unpaid dividends up to but excluding the Redemption Date.<\/p>\n<p>The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series I Shares in accordance with the terms of the Series I Shares as set out in the Company\u2019s articles. Non-registered holders of Series I Shares should contact their broker or other intermediary for information regarding the redemption process for the Series I Shares in which they hold a beneficial interest.<\/p>\n<p>The Company\u2019s transfer agent for the Series I Shares is Computershare Investor Services Inc. Questions regarding the redemption process may be directed to Computershare Investor Services Inc. at 1-800-564-6253 or by email to corporateactions@computershare.com.<\/p><\/blockquote>\n<p>EFN.PR.I is a FixedReset, 5.75%+464M575, that <a href=\"https:\/\/prefblog.com\/?p=34787\">commenced trading 2017-5-5<\/a> after being <a href=\"http:\/\/prefblog.com\/?p=34713\">announced 2017-4-26<\/a>. It has been tracked by HIMIPref\u2122 but is relegated to the Scraps index on credit concerns.<\/p>\n<p>Thanks to Assiduous Reader <i>CanSiamCyp<\/i> for <a href=\"https:\/\/prefblog.com\/?p=43379#comment-200032\">bringing this to my attention<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Element Fleet Management Corp. has announced (but not yet on their website): Preferred Share Redemption The Company also announced today its intention to redeem \u2013 in accordance with the terms of the Cumulative 5-Year Minimum &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-43402","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43402","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=43402"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/43402\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}