The limit authorized by the Québec government has increased from $135 million to $140 million in 2018
MONTRÉAL, Sept. 28, 2018 /CNW Telbec/ - At the end of the September 4 to September 24, 2018 pre-subscription period for Capital régional et coopératif Desjardins (CRCD) shares, 56,979 persons have completed an application to subscribe for shares in an aggregate amount of $166,397,600, or $2,920 per investor. With the authorized limit set at $140 million by the Québec government, that means 47,901 Quebec taxpayers, which is 1,673 more than last year, will be able to benefit from the provincial tax credit of 35%.
In accordance with the terms of the offering prospectus approved by the Autorité des marchés financiers, investors who can purchase shares were selected at random at 9:30 a.m. today under the supervision of the Desjardins Group Monitoring Office. Note that the probability of being selected was the same for all investors. All those who completed an application will be advised by email or mail on or after October 1, 2018. Selected investors will have until 5:00 p.m. on November 9, 2018 to complete their subscription online or at a caisse.
A simplified purchase method
"This year, we innovated by simplifying the share subscription process," stated Luc Ménard, Chief Operating Officer of Desjardins Capital, the entity which manages the CRCD fund, "Selected investors who are already CRCD shareholders will be able to subscribe independently online via AccèsD, without having to make an appointment at a caisse. And starting next year, CRCD will continue its digital shift with the addition of several new features such as online redemptions and access to shareholder statements."
Investors who are already shareholders may subscribe for shares via AccèsD this year while those who do not use AccèsD and new shareholders will have to make an appointment with a caisse advisor by November 9, 2018. If any selected investors do not complete a share purchase, the next investors on today's randomly established list will be contacted as of November 14, 2018 until the authorized issue limit is fully reached.
CRCD shares are not guaranteed, their value and rate of return change frequently and past performance is not indicative of future results. Investment fees may apply. Read the prospectus before investing.
About Capital régional et coopératif Desjardins
With more than 103,000 shareholders, Capital régional et coopératif Desjardins (CRCD) is a public company with $1,977 million in net assets. CRCD contributes to Québec economic development through several levers developed with its manager, Desjardins Capital. These levers, with CRCD as the driving force, form its entrepreneurial ecosystem designed to value and nurture the best of Québec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 460 businesses, cooperatives and funds in various industries spanning all Québec regions, helping to create and retain over 67,000 jobs. (www.capitalregional.com)
SOURCE Capital régional et coopératif Desjardins
For further information: For journalists only: Richard Lacasse, Capital régional et coopératif Desjardins, 418 835-8444 or 1 866 835-8444, ext. 556 3163, [email protected]; For investors: Shareholder Relations, 1 888 522-3222