10, through the compulsory redemption of not more than 4,900,000 preference shares
The Preference Shares
have been cancelled and the Bank has requested a delisting of the Preference Shares
from the Bermuda Stock Exchange and the Euro MTF market of the Luxembourg Stock Exchange, which it expects to be formalised imminently.
In accordance with the terms of the Preference Shares
, the number of Weyerhaeuser common shares issuable on conversion of the Preference Shares
was determined based on the average of the volume weighted average price of Weyerhaeuser common shares over the 20-trading-day period beginning June 1, 2016 and ending on June 28, 2016.
iv) the announcement dated 18 December 2009 in relation to the issue of the notice dated 18 December 2009 by the Acquiror to the Preference Share
Holders on the determined Effective Date, Settlement Date, Preference Share
Offer Price and Preference Share
Offer being declared unconditional in all respects;
The total number of shares in SAS will amount to 336,000,000 after the issue, of which 329,000,000 are common shares and 7,000,000 are preference shares
Carnegie Investment Bank acted as Balder's financial adviser and as lead manager and sole book-runner for the preference share
Holders who wish to accept the Preference Share
Offer but have not done so should refer to the CRPS Offer Letter and follow the procedures set out therein.
The Preference Share
offering is expected to close on November 13, 2012.
Holders should note that the Company does not currently have funds legally available to make payment on any CRPS required at the option of the Preference Share
Holders to be redeemed by the Company pursuant to the occurrence of a Fundamental Change (as defined in the Articles of Association of the Company (the "Articles")) on 17 December 2009 being the Books Closure Date ("Fundamental Change Redemption") as notified to you in the Notice of Fundamental Change issued by the Company on 24 December 2009; accordingly, Preference Share
Holders should give due consideration to accepting the Preference Share
Offer made by the Acquiror to acquire all the CRPS in issue from the Preference Share
Holders on the terms and conditions set out in the CRPS Offer Letter.
With the Scheme becoming effective on 18 December 2009, the Acquiror wishes to announce that the Preference Share
Offer has become and is hereby declared unconditional in all respects on the date of this Announcement.
On and after the redemption date, the Series A Preference Shares
will no longer be deemed to be outstanding, dividends on the Series A Preference Shares
will cease to accrue, and all rights of the holders of the Series A Preference Shares
will cease, except for the right to receive the redemption price, without interest thereon, upon surrender of the Series A Preference Shares
When available, a written prospectus for the perpetual non-cumulative preference share
offering meeting the requirements of Section 10 of the Securities Act of 1933, as amended, may be obtained from Lehman Brothers or UBS Investment Bank by contacting Lehman Brothers, c/o ADP Financial Services, Prospectus Fulfillment, 1155 Long Island Avenue, Edgewood, NY 11717, email: monica_castillo@adp.