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Intact Financial Corporation Announces Conversion Right of Series 3 Preferred Shares and Series 4 Preferred Shares, and Dividend Rates on Series 3 and Series 4 Preferred Shares
Intact Financial Corporation Announces Conversion Right of Series 3 Preferred Shares and ...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n Intact Financial Corporation Announces Conversion Right of Series 3 Preferred Shares and Series 4 Preferred Shares, and Dividend Rates on Series 3 and Series 4 Preferred Shares\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 TORONTO\n \n ,\n \n Aug. 31, 2021\n \n /CNW/ - Intact Financial Corporation (\"IFC\") (TSX: IFC) announced today that it does not intend to exercise its right to redeem all or any part of the currently outstanding Non-cumulative Rate Reset Class A Shares Series 3 of IFC (the \"Series 3 Preferred Shares\") (TSX: IFC.PR.C) or the Non-cumulative Floating Rate Class A Shares Series 4 of IFC (the \"Series 4 Preferred Shares\") (TSX: IFC.PR.D) on\n \n September 30, 2021\n \n .\n \n \n As a result, subject to certain conditions set out in the prospectus supplement dated\n \n August 11, 2011\n \n relating to the issuance of the Series 3 Preferred Shares (the \"Prospectus\"), the holders of the Series 3 Preferred Shares will have the right, at their option, to elect to convert all or any of their Series 3 Preferred Shares into Series 4 Preferred Shares on a one-for-one basis on\n \n September 30, 2021\n \n . Holders who do not exercise their right to convert their Series 3 Preferred Shares into Series 4 Preferred Shares on such date will retain their Series 3 Preferred Shares, unless automatically converted in accordance with the conditions below.\n \n \n Also, subject to certain conditions set out in the Prospectus, the holders of the Series 4 Preferred Shares will have the right, at their option, to elect to convert all or any of their Series 4 Preferred Shares into Series 3 Preferred Shares on a one-for-one basis on\n \n September 30, 2021\n \n . Holders who do not exercise their right to convert their Series 4 Preferred Shares into Series 3 Preferred Shares on such date will retain their Series 4 Preferred Shares, unless automatically converted in accordance with the conditions below.\n \n \n With respect to any Series 3 Preferred Shares that may remain outstanding after\n \n September 30, 2021...