Business
Manulife Financial Corporation announces Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 19
Manulife Financial Corporation announces Conversion Privilege of Non-cumulative Rate Reset Class ...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n\n\n\n Manulife Financial Corporation announces Conversion Privilege of Non-cumulative Rate Reset Class 1 Shares Series 19\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 C$ unless otherwise stated                                         TSX/NYSE/PSE: MFC     SEHK: 945\n \n\n\n\n TORONTO\n \n\n ,\n \n\n Jan. 29, 2025\n \n\n /CNW/ - Manulife Financial Corporation (\"Manulife\") today announced that it does not intend to exercise its right to redeem all or any of its currently outstanding 10,000,000 Non-cumulative Rate Reset Class 1 Shares Series 19 (the \"Series 19 Preferred Shares\") (TSX: MFC.PR.N) on\n \n March 19, 2025\n \n . As a result, subject to certain conditions described in the prospectus supplement dated\n \n November 26, 2014\n \n relating to the issuance of the Series 19 Preferred Shares (the \"Prospectus\"), the holders of the Series 19 Preferred Shares have the right, at their option, to convert all or part of their Series 19 Preferred Shares on a one-for-one basis into Non-cumulative Floating Rate Class 1 Shares Series 20 of Manulife (the \"Series 20 Preferred Shares\") on\n \n March 19, 2025\n \n . A formal notice of the right to convert Series 19 Preferred Shares into Series 20 Preferred Shares will be sent to the registered holders of the Series 19 Preferred Shares in accordance with the share conditions of the Series 19 Preferred Shares. Holders of Series 19 Preferred Shares are not required to elect to convert all or any part of their Series 19 Preferred Shares into Series 20 Preferred Shares. Holders who do not exercise their right to convert their Series 19 Preferred Shares into Series 20 Preferred Shares on such date will retain their Series 19 Preferred Shares, unless automatically converted in accordance with the conditions below.\n \n\n\n\n\n\n\n\n\n The foregoing conversion right is subje...