QUEBEC CITY, Nov. 6, 2013 /CNW Telbec/ - Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance") today announced that it has the intention to redeem, on December 31, 2013, all of its Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series C (the "Series C Preferred Shares") then outstanding. The redemption price will be $25.00 for each Series C Preferred Share plus an amount equal to all declared and unpaid dividends, less any tax required to be deducted and withheld by Industrial Alliance. There are 4,000,000 Series C Preferred Shares outstanding as of today.
A formal notice and instructions for the redemption of the Series C Preferred Shares will be sent to all registered shareholders in accordance with the rights, privileges, restrictions and conditions attached to the Series C Preferred Shares. The redemption of the Series C Preferred Shares is subject to the approval of the Autorité des marchés financiers.
Forward-looking Statements This press release may contain statements relating to strategies used by Industrial Alliance or statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "may", "will", "could", "should", "would", "suspect", "expect", "anticipate", "intend", "plan", "believe", "estimate", and "continue" (or the negative thereof), as well as words such as "objective" or "goal" or other similar words or expressions. Such statements constitute forward-looking statements within the meaning of securities laws. Forward-looking statements include, but are not limited to, the Company's expectations regarding the redemption of securities described in this press release and information concerning the Company's possible or assumed future operating results. These statements are not historical facts; they represent only the Company's expectations, estimates and projections regarding future events.
Although Industrial Alliance believes that the expectations reflected in such forward-looking statements are reasonable, such statements involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements.