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Great-West Lifeco announces conversion right of Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N
Great-West Lifeco announces conversion right of Non-Cumulative 5-Year Rate Reset First Preferred ...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"Great-West Lifeco announces conversion right of Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N\n\n\nGreat-West Lifeco announces conversion right of Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series 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\nCanada NewsWire\n\n\nTSX: GWO\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\nWINNIPEG, MB, Nov. 13, 2025 /CNW/ - Great-West Lifeco Inc. (TSX: GWO) (\"Lifeco\") announced today that it does not intend to exercise its rights to redeem its outstanding Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N (\"Series N Shares\") on December 31, 2025. As a result and subject to certain conditions, holders of Series N Shares have the right to convert all or any of their Series N Shares into Non-Cumulative Floating Rate First Preferred Shares, Series O (\"Series O Shares\") on a one-for-one basis on December 31, 2025. \nLifeco will send a formal notice of this conversion right to the registered holder of the Series N Shares in accordance with the terms and conditions attached to the shares. Holders of Series N Shares who do not exercise their conversion right will retain their Series N Shares. \nThe conversion right is subject to the following conditions: (i) if Lifeco determines that, after having taken into account all shares tendered for conversion, there would be less than one million Series O Shares outstanding on December 31, 2025, no Series N Shares may be converted into Series O Shares; and (ii) alternatively, if Lifeco determines that, after having taken into account all shares tendered for conversion, there would be less than one million Series N Shares outstanding on December 31, 2025, then all remaining Series N Shares will automatically be converted into Series O Shares on a one-for-one basis on December 31, 2025. In either case, Lifeco will give written notice to that effect to any registered holder affected by the preceding conditions on or before Wednesday, December 24, 2025. \nThe dividend rate applicable to the Se...