There are described the types and characteristics of preference shares such as: cumulative preference shares, participating preference shares, convertible preference shares, callable preference shares and redeemable preference shares.
The investor, who holds a participating preference share, has the right to receive a share of the entity's earnings according to predetermined conditions.
As a result of the demerger, and the subsequent conversion of THUS participating preference shares
into THUS ordinary shares approved at a THUS extraordinary general meeting yesterday, ScottishPower shareholders have received approximately 53.
34942060 THUS participating preference shares for every 100 ScottishPower ordinary shares held at 5.
today to approve the conversion of its participating preference shares into ordinary shares which, if approved, is expected to become effective tomorrow.
34942060 THUS participating preference shares for every 100 ScottishPower ordinary shares, ScottishPower shareholders would receive approximately 3.
As previously announced, fractional entitlements to THUS ordinary shares will not be distributed but will be sold for the benefit of ScottishPower (in the case of fractional entitlements arising from the special dividend effecting the demerger) and THUS (in the case of fractional entitlements arising from the conversion of THUS participating preference shares into THUS ordinary shares).
If the resolution to approve the conversion of the THUS participating preference shares into ordinary shares is passed, ScottishPower shareholders would receive 2.
THUS has convened an extraordinary general meeting to approve the THUS participating preference share conversion at 5.
Danka Business Systems PLC (NASDAQ: DANKY) and The Cypress Group, LLC (Cypress), a New York based private equity firm, today announced that they entered into a definitive agreement whereby equity investment funds managed by Cypress have agreed to invest $200 million in convertible participating preference shares