The Toronto Stock Exchange reports that Aimia Inc.'s cumulative floating rate preferred shares, Series 2 (symbol AIM.PR.B), will be halted at the open and delisted at the close on March 31, 2020. According to the TSX, all of the issued and outstanding Series 2 shares of the company will be converted into cumulative rate reset preferred shares, Series 1 (symbol AIM.PR.A), on March 31, 2020, following the conversion period, which began on March 2, 2020, and ended at 5 p.m. Montreal time on March 16, 2020.
The TSX reports that in accordance with the rights, privileges, restrictions and
conditions attaching to the Series 2 shares and the Series
1 shares, since there would be fewer than one million Series 2 shares outstanding on March 31, 2020, after
having taken into account the 1,774,254 Series 2 shares
tendered for conversion into Series 1 shares and the
17,370 Series 1 shares tendered for conversion into
Series 2 shares, all Series 2 shares will be automatically
converted into Series 1 shares on March 31, 2020.
According to the TSX, no Series 2 shares will be issued on March 31, 2020, all
2,161,865 Series 2 shares will be automatically converted
into Series 1 shares on March 31, 2020, and no Series 2
shares will remain issued and outstanding after March 31,
2020. In addition, the holders of Series 1 shares who
elected to tender their shares for conversion will not have
their Series 1 shares converted into Series 2 shares on
March 31, 2020. As a result, after March
31, 2020, there will be 5,083,140 issued and outstanding
Series 1 shares, all of which will be listed on the TSX.
For more information, see the company's news releases dated Feb. 28, 2020, and March 27, 2020.
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