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Canaccord Genuity Group Inc. Announces Conversion Privilege of Cumulative 5-Year Rate Reset First Preferred Shares, Series A
Canaccord Genuity Group Inc. Announces Conversion Privilege of Cumulative 5-Year Rate Rese...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Conversion Privilege of Cumulative 5-Year Rate Reset First Preferred Shares, Series A\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nCanaccord Genuity Group Inc. Announces Conversion Privilege of Cumulative 5-Year Rate Reset First Preferred Shares, Series A\nCanada NewsWire\nTORONTO, Aug. 12, 2016\n\n\n\n\n\n\nTORONTO, Aug. 12, 2016 /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX: CF, CF.PR.A, CF.PR.C) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding Cumulative 5-Year Rate Reset First Preferred Shares, Series A of the Company (the \"Series A Preferred Shares\") on September 30, 2016 (the \"Conversion Date\"). There are currently 4,540,000 Series A Preferred Shares outstanding.\n\nAs a result and subject to certain conditions set out in the short form prospectus dated June 16, 2011 relating to the issuance of the Series A Preferred Shares, the holders of the Series A Preferred Shares have the right, at their option, to convert all or any of their Series A Preferred Shares, on a one-for-one basis, into Cumulative Floating Rate First Preferred Shares, Series B of the Company (the \"Series B Preferred Shares\") on the Conversion Date (the \"Conversion Privilege\"). A formal notice of the Conversion Privilege will be sent to the registered holder of the Series A Preferred Shares.\n\nHolders who do not exercise their right to convert their Series A Preferred Shares into Series B Preferred Shares will continue to hold their Series A Preferred Shares and will have the opportunity to convert their shares again on September 30, 2021, and every five years thereafter as long as the shares remain outstanding.\n\nThe foregoing Conversion Privilege is subject to the following conditions: (i) if the Company determines that there would be less than 1,000,000 Series B Preferred Shares outstanding on the Conversion Date, then holders of Series A Preferred Shares will not be entitled to convert their shares into Series B Preferred Shares; and (ii) alternativel...