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CALGARY, Alberta, Could 28, 2021 (GLOBE NEWSWIRE) — Shaw Communications Inc. (“Shaw” or the “Firm”) introduced in the present day that it intends to redeem all of its issued and excellent Cumulative Redeemable Price Reset Class 2 Most popular Shares, Collection A (the “Collection A Shares”) and Cumulative Redeemable Floating Price Class 2 Most popular Shares, Collection B (the “Collection B Shares”, and along with the Collection A Shares, the “Most popular Shares”) in accordance with their phrases (as set out within the Firm’s articles) on June 30, 2021 (the “Redemption Date”) at a value equal to $25.00 per Most popular Share (the “Redemption Worth”), much less any tax required to be deducted or withheld. The combination Redemption Worth payable by Shaw to redeem the Most popular Shares will likely be $300 million.
On April 14, 2021, the Firm’s Board of Administrators declared a dividend of $0.17444 per Collection A Share and $0.12956 per Collection B Share, every payable on June 30, 2021 to holders of document on June 15, 2021. These would be the last dividends on the Most popular Shares, which will likely be paid individually from the mixture Redemption Worth and within the typical method. Upon fee of the June 30, 2021 dividends, there will likely be no accrued and unpaid dividends on the Most popular Shares as on the Redemption Date.
The Firm supplied discover in the present day to the registered holders of the Collection A Shares and Collection B Shares of its intention to redeem the Most popular Shares in accordance with their phrases as set out within the Firm’s articles. Non-registered holders of the Collection A Shares and Collection B Shares ought to contact their dealer or different middleman for info concerning the redemption course of for the Most popular Shares. The Firm’s switch agent for the Most popular Shares is AST Belief Firm (Canada). Questions concerning the redemption course of may additionally be directed to AST at 1 (800) 387-0825.
There are presently 10,012,393 Collection A Shares and 1,987,607 Collection B Shares issued and excellent.
The Collection A Shares and Collection B Shares are listed on the Toronto Inventory Change (TSX) underneath the ticker symbols SJR.PR.A and SJR.PR.B, respectively.
About Shaw Communications Inc.
Shaw Communications Inc. is a number one Canadian connectivity firm. The Wireline division consists of Shopper and Enterprise companies. Shopper serves residential prospects with broadband Web, Shaw Go WiFi, video and digital telephone. Enterprise gives enterprise prospects with Web, information, WiFi, digital telephone, and video companies. The Wi-fi division gives wi-fi voice and LTE information companies.
Shaw is traded on the Toronto and New York inventory exchanges and is included within the S&P/TSX 60 Index (Image: TSX – SJR.B, SJR.PR.A, SJR.PR.B, NYSE – SJR, and TSXV – SJR.A). For extra info, please go to www.shaw.ca.
For additional info, please contact:
Shaw Investor Relations investor.relations@sjrb.ca
Cautionary Assertion
This information launch contains “forward-looking info” inside the that means of relevant securities legal guidelines regarding, amongst different issues, the redemption of the Most popular Shares, together with the Redemption Worth (per Most popular Share and in combination) and the Redemption Date and the timing and the quantity of dividend funds on the Most popular Shares. Ahead-looking info might in some instances be recognized by phrases corresponding to “will”, “anticipates”, “expects”, “intends” and comparable expressions suggesting future occasions or future efficiency.
We warning that every one forward-looking info is inherently topic to alter and uncertainty and that precise outcomes might differ materially from these expressed or implied by the forward-looking info. Plenty of dangers, uncertainties and different elements may trigger precise outcomes and occasions to vary materially from these expressed or implied within the forward-looking info or may trigger our present targets, methods and intentions to alter. Accordingly, we warn traders to train warning when contemplating statements containing forward-looking info and that it will be unreasonable to depend on such statements as creating authorized rights concerning our future outcomes or plans. We can’t assure that any forward-looking info will materialize and you might be cautioned to not place undue reliance on this forward-looking info.
Any forward-looking info contained on this information launch signify expectations as of the date of this information launch and are topic to alter after such date. Nonetheless, we’re underneath no obligation (and we expressly disclaim any such obligation) to replace or alter any statements containing forward-looking info, the elements or assumptions underlying them, whether or not because of new info, future occasions or in any other case, besides as required by legislation. The entire forward-looking info on this information launch is certified by the cautionary statements herein.
