QUEBEC CITY, Nov. 11, 2013 /CNW Telbec/ - Further to the Autorité des marchés financiers' approval, Industrial Alliance Insurance and Financial Services Inc.
("Industrial Alliance") announces that it has sent to all registered
holders of its Non-Cumulative 5-Year Rate Reset Class A Preferred
Shares Series C (the "Series C Preferred Shares") a formal notice and
instructions for the redemption of the Series C Preferred Shares, in
accordance with the rights, privileges, restrictions and conditions
attached to the Series C Preferred Shares. Therefore, Industrial
Alliance will redeem, on December 31, 2013, all of its Series C
Preferred Shares then outsanding. 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.
Beneficial holders who are not the registered holders of these shares
should contact the financial institution, broker or other intermediary
through which they hold such shares to confirm how they will receive
the redemption proceeds.
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.
The forward-looking statements in this news release reflect the
Company's expectations as of the date of this document. Industrial
Alliance does not undertake to update or release any revisions to these
forward-looking statements to reflect events or circumstances after the
date of this document or to reflect the occurrence of unanticipated
events, except as required by law.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services
Inc. is a life and health insurance company with operations in all
regions of Canada as well as in the United States. The Company offers a
wide range of life and health insurance products, savings and
retirement plans, RRSPs, mutual and segregated funds, securities, auto
and home insurance, mortgage loans and other financial products and
services for both individuals and groups. The fourth largest life and
health insurance company in Canada, Industrial Alliance contributes to
the financial security of over three million Canadians and employs
4,400 people. With the recent acquisition of Jovian Capital Corporation
on October 1st, the Company now manages and administers about $95 billion in assets.
Industrial Alliance stock is listed on the Toronto Stock Exchange under
the ticker symbol IAG.
SOURCE: Industrial Alliance Insurance and Financial Services Inc.
For further information:
Office: 418 780-5945