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LOBLAW COMPANIES LIMITED ANNOUNCES INTENTION TO REDEEM SECOND PREFERRED SHARES, SERIES B
LOBLAW COMPANIES LIMITED ANNOUNCES INTENTION TO REDEEM SECOND PREFERRED SHARES, SERIES B ...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n\n\n\n LOBLAW COMPANIES LIMITED ANNOUNCES INTENTION TO REDEEM SECOND PREFERRED SHARES, SERIES B\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 BRAMPTON, ON\n \n\n ,\n \n\n Dec. 9, 2024\n \n\n /CNW/ - (TSX: L) (TSX: L.PR.B) – Loblaw Companies Limited (\"Loblaw\" or the \"Company\") announced today its intention to redeem for cash all of its 9,000,000 outstanding Second Preferred Shares, Series B (the \"Series B Shares\") on\n \n January 8, 2025\n \n (the \"Redemption Date\") at a redemption price equal to\n \n $25.00\n \n per share, for an aggregate amount of\n \n $225 million\n \n , together with all accrued and unpaid dividends up to but excluding the Redemption Date in the amount of\n \n $0.02944\n \n per Series B Share (collectively, the \"Redemption Price\"), less any tax required to be deducted and withheld by the Company.\n \n\n Formal notice will be delivered to the sole registered holder of the Series B Shares in accordance with the terms of the Series B Shares contained in the Company's articles.\n \n\n The Series B Share redemption will not impact the Company's previously announced quarterly dividend on the Series B Shares, payable on\n \n December 31, 2024\n \n to shareholders of record on\n \n December 15, 2024\n \n . After the Series B Shares are redeemed, holders of Series B Shares will cease to be entitled to dividends and will not be entitled to exercise any rights as holders other than to receive the Redemption Price.\n \n\n Non-registered holders of Series B Shares should contact their broker or other intermediary for information regarding the redemption process for the Series B Shares in which they hold a beneficial interest. The Company's transfer agent for the Series B Shares is Computershare Trust Company of\n \n Canada\n \n (\"Computershare\"). Questions regarding the redemption process may be directed to Computershare at 1-800-564-6253 or by email to\n \n [email protected]\n \n .\n \n\n Following the redemption on\n \n January 8, 2025\n \n , the Series B Shares will be delisted f...