Transcontinental Inc. Announces Redemption of Cumulative 5-Year Rate Reset First Preferred Shares, Series D
Montreal, September 11, 2014 - Transcontinental Inc. (TSX: TCL.A, TCL.B, TCL.PR.D) announced today that it will exercise its right to redeem all of its 4 million outstanding Cumulative 5-Year Rate Reset First Preferred Shares, Series D on October 15, 2014 at the price per share of $25.00, for an aggregate total of $100 million. The Corporation intends to finance the share redemption through its revolving credit facility.
The quarterly dividend of $0.4253 per Series D Shares will be the final dividend on the Series D Shares, and will be paid in the usual manner on October 15, 2014 to shareholders of record on October 15, 2014. After October 15, 2014, the Series D Shares will cease to be entitled to dividends and the holders of such shares will not be entitled to exercise any right in respect thereof except that of receiving the redemption amount.
Instruction with respect to receipt of the redemption amount will be set out in the Letter of Transmittal to be transmitted to registered holders of the Series D Shares shortly. Inquiries should be directed to our Registrar and Transfer Agent, CST Trust Company, at 1‑800‑387‑0825 (or in Toronto 416‑682‑3860). Beneficial holders who are not directly the registered holders of these shares should contact the financial institution, broker or other intermediary through which they hold these shares to confirm how they will receive their redemption proceeds.
About TC Transcontinental
Largest printer and a leading provider of media and marketing activation solutions in Canada, TC Transcontinental creates products and services that allow businesses to attract, reach and retain their target customers. The Corporation specializes in print and digital media, the production of magazines, newspapers, books and custom content, mass and personalized marketing, interactive and mobile applications, door-to-door distribution, and also supplies a range of flexible packaging solutions in the United States.
Transcontinental Inc. (TSX: TCL.A, TCL.B, TCL.PR.D), including TC Transcontinental, TC Media, TC Transcontinental Printing and TC Transcontinental Packaging, has over 9,000 employees in Canada and the United States, and revenues of C$2.1 billion in 2013.
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