CORRECTION – iA Financial Group Announces the Issuance of a Redemption Notice to Holders of Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I
In a release issued under the same headline earlier today by Industrial Alliance Insurance and Financial Services Inc., the record date was incorrect. The complete, corrected release follows:
Further to the approval of the Autorité des marchés financiers (Québec), Industrial Alliance Insurance and Financial Services Inc. (“iA Insurance”) announces that it has sent today to all shareholders of its Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series I (the “Series I Preferred Shares”) a formal notice and instructions for the redemption of the Series I Preferred Shares outstanding as of today. Upon the Series I Redemption scheduled for March 31, 2023, iA Insurance will pay to the holders of the Series I Preferred Shares the redemption price of $25 less any taxes required to be withheld or deducted. There are 6,000,000 Series I Preferred Shares outstanding as of today.
Separately from the redemption price, the final quarterly dividend of $0.3000 per Series I Preferred Share will be paid in the usual manner on March 31, 2023 to shareholders of record on February 24, 2023. After the Series I Preferred Shares are redeemed, holders of Series I Preferred Shares will cease to be entitled to distributions of dividends and will not be entitled to exercise any rights as holders other than to receive the redemption price and the final quarterly dividend described above.