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Great-West Lifeco reports results of conversion elections for Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N and Non-Cumulative Floating Rate First Preferred Shares, Series O
Great-West Lifeco reports results of conversion elections for Non-Cumulative 5-Year Rate ...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n \n \n \n Great-West Lifeco reports results of conversion elections for Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N and Non-Cumulative Floating Rate First Preferred Shares, Series O\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 TSX:GWO\n \n \n \n \n WINNIPEG, MB\n \n ,\n \n Dec. 17, 2020\n \n /CNW/ - Great-West Lifeco Inc. (\"Lifeco\") announced today that holders of 59,830 Lifeco Non-Cumulative 5-Year Rate Reset First Preferred Shares, Series N (the \"Series N Shares\") have elected to convert their shares into Non-Cumulative Floating Rate First Preferred Shares, Series O (the \"Series O Shares\") and that holders of 547,303 Series O Shares have elected to convert their shares into Series N Shares.\n \n \n Lifeco currently has 8,524,422 Series N Shares and 1,475,578 Series O Shares outstanding. After taking into account all shares tendered for conversion, there would be less than one million Series O Shares outstanding on\n \n December 31, 2020\n \n . As a result and in accordance with the terms and conditions attached to the shares, no Series N Shares may be converted into Series O Shares and all remaining Series O Shares will automatically be converted into Series N Shares on a one-for-one basis on\n \n December 31, 2020\n \n . Lifeco will give written notice to that effect to any registered holder on or before\n \n Thursday, December 24, 2020\n \n .\n \n \n Following the automatic conversion, Lifeco will have 10,000,000 Series N Shares and\n \n no\n \n Series O Shares issued and outstanding. The Series N Shares and Series O Shares are currently listed on the Toronto Stock Exchange under the symbols GWO.PR.N and GWO.PR.O, respectively.\n \n \n The Series N Shares and the Series O Shares have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws. The Series N Shares and the Series O Shares may not be offered, sold or delivered, directly or indirectly, in\n \n the United States of America\n \n for the account or benefit of U.S. perso...