Preferred Series 4

An unlimited number of Series 4 non‑voting preferred shares, without nominal or par value, issuable in series are authorized.

 

Preferred shares 9,400,000 Series 4 Cumulative Redeemable Preferred Shares

 

 

Redemption

The Corporation may, subject to certain provisions, on not less than 30 nor more than 60 days’ notice, redeem for cash the Series 4 Cumulative Redeemable Preferred Shares at $25.00 Cdn.

 

 

Conversion

  • The Corporation may, subject to the approval of the Toronto Stock Exchange and such other stock exchanges on which the Series 4 Cumulative Redeemable Preferred Shares are then listed, at any time convert all or any of the outstanding Series 4 Cumulative Redeemable Preferred Shares into fully paid and non‑assessable Class B Shares (Subordinate Voting) of the Corporation.
  • The number of Class B Shares (Subordinate Voting) into which each Series 4 Cumulative Redeemable Preferred Shares may be so converted will be determined by dividing the then applicable redemption price together with all accrued and unpaid dividends to, but excluding the date of conversion, by the greater of $2.00 Cdn and 95% of the weighted‑average trading price of such Class B Shares (Subordinate Voting) on the Toronto Stock Exchange for the period of 20 consecutive trading days, which ends on the fourth day prior to the date specified for conversion or, if that fourth day is not a trading day, on the trading day immediately preceding such fourth day.
  • The Corporation may, at its option, at any time, create one or more further series of Preferred Shares of the Corporation, into which the holders of Series 4 Cumulative Redeemable Preferred Shares could have the right, but not the obligation, to convert their shares on a share‑for‑share basis.

 

 

Dividend

The holders of Series 4 Cumulative Redeemable Preferred Shares are entitled to fixed cumulative preferential cash dividends, if declared, at a rate of 6.25% or $1.5625 Cdn per share per annum, payable quarterly on the last day of January, April, July and October of each year at a rate of $0.390625 Cdn per share.