Dundee Corporation Sells 7,000,000 Scotiabank Preferred Shares
October 18 2011 - 11:21AM
Marketwired
Dundee Corporation (TSX:DC.A)(TSX:DC.PR.A)(TSX:DC.PR.B) announced
today that it has sold 7,000,000 Scotiabank Preferred Shares Series
32 at a price of $24.75 per share, for total gross proceeds of
$173,250,000, which will be added to working capital. The shares
were initially acquired by Dundee Corporation as part of the
consideration paid for the sale of its interest in DundeeWealth
Inc. to Scotiabank. A syndicate of agents, led by TD Securities,
co-led by Scotia Capital Inc. and including Dundee Securities Ltd.,
BMO Capital Markets, CIBC, RBC Capital Markets, National Bank
Financial Inc., GMP Securities L.P. and Desjardins Securities Inc.
acted in the sale of these shares. Dundee Corporation will receive
the dividend of $0.23 per Preferred Share, Series 32 that was
declared on August 30, 2011 and payable on October 27, 2011.
Contacts: Dundee Corporation Ned Goodman President and Chief
Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot
Vice President and Chief Financial Officer (416) 365-5157
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