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Intact Financial Corporation Announces Results of Conversion of its Series 3 and Series 4 Preferred Shares
Intact Financial Corporation Announces Results of Conversion of its Series 3 and Series 4...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n Intact Financial Corporation Announces Results of Conversion of its 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 Sept. 16, 2021\n \n /CNW/ - Intact Financial Corporation (\"IFC\") (TSX: IFC) announced today that 58,082 of its 8,405,004 Non-cumulative Rate Reset Class A Shares Series 3 (the \"Series 3 Preferred Shares\") were tendered for conversion on\n \n September 30, 2021\n \n , on a one-for-one basis, into Non-cumulative Floating Rate Class A Shares Series 4 of IFC (the \"Series 4 Preferred Shares\") after having taken into account all elections received before the\n \n September 15, 2021\n \n ,\n \n 5:00 p.m. (ET)\n \n conversion deadline. Further, 886,758 of its 1,594,996 Series 4 Preferred Shares were tendered for conversion on\n \n September 30, 2021\n \n , on a one-for-one basis, into Series 3 Preferred Shares after having taken into account all elections received before the\n \n September 15, 2021\n \n ,\n \n 5:00 p.m. (ET)\n \n conversion deadline. As a result of these conversions, less than 1,000,000 Series 4 Preferred Shares would remain outstanding on\n \n September 30, 2021\n \n . Therefore, no Series 3 Preferred Shares will be converted into Series 4 Preferred Shares, and all of the remaining outstanding Series 4 Preferred Shares will automatically be converted into Series 3 Preferred Shares on the basis of one Series 3 Preferred Share for each Series 4 Preferred Share, on\n \n September 30, 2021\n \n . IFC will have 10,000,000 Series 3 Preferred Shares issued and outstanding. The Series 3 Preferred Shares will continue to be listed on the Toronto Stock Exchange (\"TSX\") under the symbol IFC.PR.C and the additional shares will begin trading on the TSX on\n \n September 30, 2021\n \n , subject to IFC fulfilling all the listing requirements of the TSX. The Series 4 Preferred Shares will cease trading on the TSX at market open on\n \n September 30, 2021\n \n and will be delisted following market close on the same day.\n \n \n Subject to cer...