– Now Available to all Noteholders who Vote –
TORONTO, March 24, 2015 /CNW/ - Canadian Tire Corporation. Limited (TSX:CTC, TSX:CTC.a) (the Corporation) today announced an amendment to the approval fee payable in connection with its previously called meeting and related consent solicitation of holders (Noteholders) of its 6.25% medium term notes due April 13, 2028 and 6.32% medium term notes due February 24, 2034 issued pursuant to the terms of a trust indenture dated June 4, 1993 (as amended and supplemented to date, the 1993 Trust Indenture). The meeting and related consent solicitation was called to consider a resolution to approve certain amendments to the terms of the notes and the 1993 Trust Indenture. The Corporation will now pay the approval fee of $5.00 per $1,000 principal amount to all Noteholders who vote on the resolution, regardless of whether they vote for or against the resolution, provided the resolution is approved at the meeting or as part of the related consent solicitation. Previously, Noteholders had to vote in favour of the resolution to be eligible to receive the approval fee. To be eligible to receive the approval fee, if one is paid, Noteholders must execute and deliver a valid proxy to the tabulation agent for the meeting and related consent solicitation by the deadline for submitting proxies, or vote in person at the meeting, if the meeting is held. All other conditions concerning the payment of the approval fee will remain unchanged. Reference should be made to the Corporation's management information circular dated March 2, 2015 and related proxy materials that were mailed to Noteholders and are available on SEDAR at www.sedar.com for other details concerning the approval fee.
The Corporation believes that the proposed amendments to the notes and the 1993 Trust Indenture would provide it with greater flexibility to manage and finance its business. The amendments would also reduce administrative inefficiencies by providing more consistent terms across all of the Corporation's medium term notes, including both those issued under the 1993 Trust Indenture and those issued under the Corporation's Trust Indenture dated March 14, 2005. The record date for determining Noteholders entitled to vote at the meeting and as part of the related consent solicitation was February 27, 2015 and the meeting date is scheduled for March 30, 2015. The deadline for submitting proxies for the meeting and related consent solicitation is 2:00 p.m. (Toronto time) on March 26, 2015.
About Canadian Tire Corporation
Canadian Tire Corporation, Limited (TSX:CTC.A) (TSX:CTC) is a family of businesses that includes a retail segment, a financial services division and CT REIT. Our retail business is led by Canadian Tire, which was founded in 1922 and provides Canadians with products for life in Canada across its Living, Playing, Fixing, Automotive and Seasonal categories. PartSource and Gas+ are key parts of the Canadian Tire network. The retail segment also includes Mark's, a leading source for casual and industrial wear, and FGL Sports (Sport Chek, Hockey Experts, Sports Experts, National Sports, Intersport, Pro Hockey Life and Atmosphere), which offers the best active wear brands. The 1,700 retail and gasoline outlets are supported and strengthened by our Financial Services division and the tens of thousands of people employed by the Company. For more information, visit Corp.CanadianTire.ca.
SOURCE CANADIAN TIRE CORPORATION, LIMITED
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