Business News • MarketWire • Dominion Citrus Announces Proposed Settlement With Holder of Series A Preference Shares of Dominion Citrus Limited |
Dominion Citrus Announces Proposed Settlement With Holder of Series A Preference Shares of Dominion Citrus Limited |
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Dominion Citrus Announces Proposed Settlement With Holder of Series A Preference Shares of Dominion Citrus Limited
TORONTO, ONTARIO--(Marketwire - Feb. 28, 2013) - Dominion Citrus Income Fund (the "Fund") (TSX:DOM.UN) and Dominion Citrus Limited (TSX:DMN.PR.A) (the "Company") (collectively, "Dominion Citrus") today announced that their respective boards (the "Boards") have approved, on a without prejudice basis, the terms of a proposed settlement (the "Settlement") with a significant holder of outstanding Series A Preference Shares of the Company (the "Preference Shares"). The Company intends to seek the approval of the holders of Preference Shares by way of special resolution (the "Settlement Resolution") so as to incorporate the terms of the Settlement into the articles of the Preference Shares and make the terms of the Settlement binding upon all holders. The Settlement will have the effect of eliminating the current cash retraction date of April 1, 2013 applicable to the Preference Shares, waiving a portion of the accrued dividends, future dividend rights and substituting repayment of the cash retraction amount over a six (6) year period at which time the Preference Shares shall be redeemed.
View More : http://www.marketwire.com/mw/release.do?id=1762880&sourceType=3
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