GUELPH, ON, June 21 /CNW/ - Co-operators General Insurance Company
("Co-operators General" or the "Company") confirmed today the arrangements
relating to the payment for the previously announced dividend on the Class E
Preference Shares, Series A (the "Series A Series") (TSX: CCS.PR.A) and the
redemption of all of the Series A Shares. Notice of redemption was mailed to
registered holders on May 31, 2007.
The dividend in the amount of $0.34375 per Series A Shares for the
quarter ending June 30, 2007 was previously declared and will be payable on
July 3, 2007 (with an effective date of June 30, 2007) to holders of record on
June 1, 2007.
The redemption price of $25.00 per Series A Shares will be payable on
July 3, 2007 (with an effective date of June 30, 2007) upon presentation of
certificates and required letters of transmittal. The declared dividend of
$0.34375 per Class A Share for the quarter ended June 30, 2007 will not be
included in the redemption price as such dividend will be paid separately to
holders of record on June 1, 2007 immediately prior to payment of the
redemption price. The Company does not expect to declare any further dividends
on the Series A Shares.
Payment of the dividend and redemption price will be made through the
intermediary of Computershare Investor Services Inc. and, where applicable,
will be facilitated by CDS Clearing and Depository Services Inc. in respect of
Series A Shares held through intermediaries.
Inquiries relating to the dividend and redemption payments and requests
for letters of transmittal may be directed to Computershare Investor Services
Inc., 100 University Ave., 9th Floor, North Tower, Toronto, ON, M5J 2Y1,
Attention: Corporate Actions, tel: 1 (800) 564-6253.
About Co-operators General
With assets of approximately $4.5 billion, Co-operators General is the
leading Canadian-owned multi-product insurance company. Co-operators General
is primarily involved in the sale of personal insurance (automobile and home
insurance). The Company is part of The Co-operators, a national group of
companies owned by 37 Canadian co-operative organizations that focuses on
insurance as well as investment products and property development.
Co-operators General can be found on the internet on www.cooperators.ca
and on www.sedar.com
This news release includes Forward-Looking statements with respect to
Co-operators General, including its business operations strategy as well as
its financial performance and condition. These statements generally can be
identified by the use of Forward-Looking words such as: "may", "will",
"expect", "intend", "estimate", "anticipate", "believe", or "continue" or the
negative thereof or similar variations. Although management of Co-operators
General believe that the expectations reflected in such Forward-Looking
statements are reasonable, such statements involve risks and uncertainties and
actual results may differ materially from those expressed or implied by such
Forward-Looking statements. Important factors that could cause actual results
to differ materially from expectations include among other things, general
economic conditions worldwide, market factors, including global capital market
activity, interest rate and currency value fluctuations, business competition,
changes in government regulations or in tax laws, technological changes,
changes in consumer demand for the products and services of Co-operators
General catastrophic events, political conditions and developments.
Co-operators General does not undertake to update any Forward-Looking
For further information:
For further information: Bill McPhee, Vice-President, Corporate Finance,