TSX: GWO
WINNIPEG, MB, Nov. 26, 2021 /PRNewswire/ -- Great-West
Lifeco Inc. (Lifeco or the Corporation) has announced that it
intends to redeem all of its outstanding 5.90% Non-Cumulative First
Preferred Shares, Series F (the Series F Shares) on December 31, 2021. The redemption price will be
$25.00 for each Series F Share plus
an amount equal to all declared and unpaid dividends, less any tax
required to be deducted and withheld by the Corporation. The
paid-up capital of the Series F Shares is $20.59 per
share.
Lifeco will send a formal redemption notice and instructions to
registered holders of the Series F Shares in accordance with the
rights, privileges, restrictions and conditions attached to the
shares.
About Great-West Lifeco Inc.
Great-West Lifeco Inc. is
an international financial services holding company with interests
in life insurance, health insurance, retirement and investment
services, asset management and reinsurance businesses. We operate
in Canada, the United States and Europe under the brands Canada Life, Empower
Retirement, Putnam Investments, and Irish
Life. At the end of 2020, our companies had approximately
24,500 employees, 205,000 advisor relationships, and thousands of
distribution partners – all serving our more than 30 million
customer relationships across these regions. Lifeco and its
companies have approximately $2.2
trillion in consolidated assets under administration as of
September 30, 2021 and are members of
the Power Corporation group of companies. Lifeco trades
on the Toronto Stock Exchange under the ticker symbol GWO. To learn
more, visit greatwestlifeco.com.
Cautionary note regarding Forward-Looking
Statements
Certain statements in this news release
constitute forward-looking statements. These statements include,
without limitation, statements about the proposed redemption of the
Series F Shares. Forward-looking statements are not historical
facts but instead represent only Lifeco's belief regarding future
events, many of which, by their nature, are inherently uncertain
and outside Lifeco's control. It is possible that actual results
will differ, possibly materially, from the anticipated results
indicated in these statements. Factors that could cause actual
results to differ, possibly materially, from those in the
forward-looking statements are discussed in periodic filings by
Lifeco with Canadian securities regulators. These filings include
Lifeco's management's discussion and analysis ("MD&A") for the
year ended December 31, 2020 (see
"Risk Management and Control Practices") and annual information
form dated February 10, 2021 (see
"Risk Factors"), which, along with other filings, are available for
review at www.sedar.com. The reader is also cautioned to consider
these and other factors, uncertainties and potential events
carefully and not to place undue reliance on forward-looking
information. Other than as specifically required by applicable law,
Lifeco does not intend to update any forward-looking information
whether as a result of new information, future events or
otherwise.
Media Relations, Liz Kulyk,
media.relations@canadalife.com; Investor Relations, Deirdre Neary, deirdre.neary@canadalife.com
