The Toronto Stock Exchange reports that Prime Dividend Corp. has rolled back its Class A shares on a one-new-for-approximately-1.37-old basis (or 0.727325294 for one), effective at the open on Dec. 22, 2023. According to the TSX, the Class A shares will continue trading under the symbol PDV. The new Cusip number is 74161F 40 3.

The TSX notes that no fractional Class A shares will be issued in connection with the rollback and, in the event that a shareholder would otherwise be entitled to receive a fractional Class A share upon the share consolidation, such fraction will be rounded down to the nearest whole number. Shareholders are not required to take any action in order to receive postconsolidation Class A shares. Registration of such beneficial interests in Class A shares will be made through the book-entry-only system administered by CDS Clearing and Depository Services Inc.

In connection with the extension of the termination date of the company to Dec. 1, 2028, a special retraction right was offered allowing existing holders of Class A shares and/or preferred shares to tender one or both classes of shares and receive a retraction price based on the Nov. 30, 2023, net asset value per unit (consisting of one preferred share and one Class A share). In total, more preferred shares were tendered for retraction than Class A shares. The purpose of the share consolidation is to maintain the requirement that an equal number of Class A shares and preferred shares remain outstanding at all material times.