CANACCORD GENUITY GROUP INC. ANNOUNCES CONVERSION RESULTS FOR ITS CUMULATIVE 5-YEAR RATE RESET PREFERRED SHARES, SERIES C

About this update from Canaccord Genuity Group Inc.

[{"type":"text","content":"\n \n \n \n CANACCORD GENUITY GROUP INC. ANNOUNCES CONVERSION RESULTS FOR ITS CUMULATIVE 5-YEAR RATE RESET PREFERRED SHARES, SERIES C\n \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 \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 16, 2022\n \n \n /CNW/ - Canaccord Genuity Group Inc. (the \"Company\") (TSX: CF) (TSX: CF.PR.A) (TSX: CF.PR.C) announced today that after having taken into account all election notices received by the\n \n June 15, 2022\n \n conversion deadline in respect of the Cumulative 5-Year Rate Reset First Preferred Shares, Series C (the \"Series C Preferred Shares\") tendered for conversion into Cumulative Floating Rate First Preferred Shares, Series D (the \"Series D Preferred Shares\"), the holders of the Series C Preferred Shares are not entitled to convert their shares. There were 21,515 Series C Preferred Shares tendered for conversion, which is less than the 1,000,000 shares required for the ability to proceed with the conversion into Series D Preferred Shares, in accordance with the terms of the Series C Preferred Shares.\n \n \n As outlined in a press release on\n \n June 1, 2022\n \n , holders of Series C Preferred Shares will be entitled to receive quarterly fixed, cumulative, preferential cash dividends, if, as and when declared by the Board of Directors of the Company, subject to the provisions of the\n \n Business Corporations Act\n \n (\n \n British Columbia\n \n ). The dividend rate for the five-year period commencing on\n \n July 1, 2022\n \n , and ending on and including\n \n June 30, 2027\n \n will be 6.837% per annum, being equal to the sum of the five year Government of\n \n Canada\n \n bond yield determined as of\n \n June 1\n \n , plus 4.03%, in accordance with the terms of the Series C Preferred Shares.\n \n \n There are currently 4,000,000 Series C Preferred Shares listed on the Toronto Stock Exchange under the symbol CF.PR.C.\n \n \n The Series C Preferred Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"U.S. Securities Act\") or the securitie...

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