PDV.PR.A To Vote on Term Extension

Prime Dividend Corp. has announced (although not yet on their website):

that a special meeting of the holders of the Company’s Preferred Shares and Class A Shares will be held at 11:00 a.m. (Eastern standard time) on Thursday, November 3, 2011. The purpose of the meeting is to consider a special resolution to extend the mandatory termination date for the Company from December 1, 2012 to December 1, 2018. Shareholders of record at the close of business on September 29, 2011 will be provided with the notice of meeting and management information circular in respect of the meeting and will be entitled to vote at the meeting.

If the extension is approved, Class A Shareholders and Preferred Shareholders will be provided with a Special Retraction right which is designed to provide Shareholders with an opportunity to retract their Shares and receive a retraction price that is calculated in the same way that such price would be calculated if the Company were to terminate on December 1, 2012 as originally contemplated.

PDV.PR.A was last mentioned on PrefBlog in August 2009. PDV.PR.A is not tracked by HIMIPref™ – the issue size is simply too small.

One Response to “PDV.PR.A To Vote on Term Extension”

  1. […] As previously reported, PDV.PR.A was to vote on a term extension. […]

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