Redemption of Preferred Shares /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./
Readers are referred to the section "Forward-Looking Statements" at the end of this release. All figures are expressed in Canadian dollars.
MONTRAL, Oct. 18, 2021 /CNW Telbec/ - Power Financial Corporation ("Power Financial" or the "Corporation") (TSX: PWF.PR.I) announced today that it intends to redeem all 8,000,000 of its outstanding 6.00% Non-Cumulative First Preferred Shares, Series I (the "Series I Shares") on November 22, 2021.
In accordance with the terms of the Series I Shares, the redemption price will be $25.00 per Series I Share (for a total of $200 million) together with any declared and unpaid dividends, net of any tax required to be withheld by the Corporation. A notice of the redemption of the Series I Shares will be provided in accordance with the rights, privileges and conditions attached to the Series I Shares.