TORONTO, Feb. 1 /CNW/ - Ontario Teachers' Pension Plan Board ("OTPPB")
today announced that on January 22, 2008 it acquired beneficial ownership and
control of 1,000,000 Class A First Preferred Shares, Series Q of The
Toronto-Dominion Bank ("Series Q Preferred Shares") pursuant to an initial
public offering for total proceeds of $25,000,000. As a result, OTPPB has
beneficial ownership and control over an aggregate of 1,000,000 Series Q
Preferred Shares, representing approximately 12.5% of the outstanding Series Q
Preferred Shares and 1.8% of the total outstanding Class A First Preferred
Shares ("Preferred Shares"). This news release is being issued under the early
warning provisions of Canadian provincial securities legislation.
OTPPB has acquired the Series Q Preferred Shares for investment purposes
only. In fulfilling its responsibilities as an owner of securities, OTPPB may
make its views known to The Toronto-Dominion Bank's (the "Company") management
or Board of Directors when proxies are solicited and on other occasions.
Depending on market conditions and other factors that OTPPB may deem material
to its investment decisions, OTPPB may in the future acquire Preferred Shares,
debentures, options or other derivative securities related to the Preferred
Shares in the open market or in privately negotiated purchases or otherwise
and may also, depending on then-current circumstances, dispose of all or a
portion of the Preferred Shares, debentures, options or other derivative
securities related to the Preferred Shares, in one or more transactions, in
each case to the extent then permitted by applicable law and regulation.
With over $106 billion in net assets as of December 31, 2006, Ontario
Teachers' Pension Plan is the largest single-profession pension plan in
Canada. An independent organization, it invests the pension fund's assets and
administers the pensions of 271,000 active and retired Ontario teachers.
For further information:
For further information: A copy of the Early Warning Report that will be
filed with the applicable securities commissions can be obtained by
contacting: Deborah Allan, Director, Communications, Ontario Teachers' Pension
Plan, (416) 730-5347, email@example.com; Ontario Teachers' Pension Plan,
5650 Yonge Street, Toronto, Ontario, M2M 4H5