{"id":407028,"date":"2020-12-31T16:33:36","date_gmt":"2020-12-31T21:33:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=407028"},"modified":"2020-12-31T16:33:36","modified_gmt":"2020-12-31T21:33:36","slug":"power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/","title":{"rendered":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial"},"content":{"rendered":"
\n

Canada NewsWire<\/p>\n<\/p><\/div>\n

\n

MONTR\u00c9AL, Dec. 31, 2020<\/span> \/CNW Telbec\/ –\u00a0Power Corporation of Canada<\/span> (“Power Corporation” or “PCC”) (TSX: POW) today announced the completion of an internal share capital reorganization (the “Internal Reorganization”) of Power Financial Corporation (“PFC”), which is intended to further simplify the PCC group corporate structure. <\/p>\n

Prior to the Internal Reorganization, PCC held 238,693,580 common shares of PFC (“Common Shares”) directly and 425,402,926 Common Shares indirectly through its wholly owned subsidiary, 171263 Canada Inc., representing, in aggregate, 100% of the issued and outstanding Common Shares. Following the Internal Reorganization, PCC is the direct holder of 664,096,506 Common Shares, representing 100% of the issued and outstanding Common Shares. In addition, pursuant to the Internal Reorganization, 500,000,000 Third Preferred Shares of PFC (which rank junior to the First Preferred Shares of PFC) were issued to PCC for a subscription price of $1.00<\/span> per share, of which 250,000,000 were subsequently redeemed by PFC for $1.00<\/span> per share in cash. As a result, PCC is the direct holder of 250,000,000 Third Preferred Shares, representing 100% of the issued and outstanding Third Preferred Shares.\u00a0 <\/p>\n

For further details on the Internal Reorganization, please see the Early Warning Report filed today by PCC and available on PFC’s profile on SEDAR at www.sedar.com<\/a>. <\/p>\n

\n About Power Corporation<\/b>\n <\/p>\n

Power Corporation is an international management and holding company that focuses on financial services in North America<\/span>, Europe<\/span> and Asia<\/span>. Its core holdings are leading insurance, retirement, wealth management and investment businesses, including a portfolio of alternative asset investment platforms.\u00a0Power Corporation’s head office is located at 751 Victoria Square, Montr\u00e9al, Qu\u00e9bec. To learn more, visit www.PowerCorporation.com<\/a>.<\/p>\n

SOURCE Power Corporation of Canada<\/span><\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

Canada NewsWire MONTR\u00c9AL, Dec. 31, 2020 \/CNW Telbec\/ –\u00a0Power Corporation of Canada (“Power Corporation” or “PCC”) (TSX: POW) today announced the completion of an internal share capital reorganization (the “Internal Reorganization”) of Power Financial Corporation (“PFC”), which is intended to further simplify the PCC group corporate structure. Prior to the Internal Reorganization, PCC held 238,693,580 common shares of PFC (“Common Shares”) directly and 425,402,926 Common Shares indirectly through its wholly owned subsidiary, 171263 Canada Inc., representing, in aggregate, 100% of the issued and outstanding Common Shares. Following the Internal Reorganization, PCC is the direct holder of 664,096,506 Common Shares, representing 100% of the issued and outstanding Common Shares. In addition, pursuant to the Internal Reorganization, 500,000,000 Third Preferred Shares of … <\/p>\n

Continue reading “Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-407028","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPower Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Canada NewsWire MONTR\u00c9AL, Dec. 31, 2020 \/CNW Telbec\/ –\u00a0Power Corporation of Canada (“Power Corporation” or “PCC”) (TSX: POW) today announced the completion of an internal share capital reorganization (the “Internal Reorganization”) of Power Financial Corporation (“PFC”), which is intended to further simplify the PCC group corporate structure. Prior to the Internal Reorganization, PCC held 238,693,580 common shares of PFC (“Common Shares”) directly and 425,402,926 Common Shares indirectly through its wholly owned subsidiary, 171263 Canada Inc., representing, in aggregate, 100% of the issued and outstanding Common Shares. Following the Internal Reorganization, PCC is the direct holder of 664,096,506 Common Shares, representing 100% of the issued and outstanding Common Shares. In addition, pursuant to the Internal Reorganization, 500,000,000 Third Preferred Shares of … Continue reading "Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-31T21:33:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial\",\"datePublished\":\"2020-12-31T21:33:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/\"},\"wordCount\":276,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/\",\"name\":\"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231\",\"datePublished\":\"2020-12-31T21:33:36+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#primaryimage\",\"url\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231\",\"contentUrl\":\"https:\\\/\\\/rt.prnewswire.com\\\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#website\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/\",\"name\":\"Market Newsdesk\",\"description\":\"Latest Business News in Real Time\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\",\"name\":\"Newsdesk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g\",\"caption\":\"Newsdesk\"},\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/author\\\/newsdesk\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/","og_locale":"en_US","og_type":"article","og_title":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk","og_description":"Canada NewsWire MONTR\u00c9AL, Dec. 31, 2020 \/CNW Telbec\/ –\u00a0Power Corporation of Canada (“Power Corporation” or “PCC”) (TSX: POW) today announced the completion of an internal share capital reorganization (the “Internal Reorganization”) of Power Financial Corporation (“PFC”), which is intended to further simplify the PCC group corporate structure. Prior to the Internal Reorganization, PCC held 238,693,580 common shares of PFC (“Common Shares”) directly and 425,402,926 Common Shares indirectly through its wholly owned subsidiary, 171263 Canada Inc., representing, in aggregate, 100% of the issued and outstanding Common Shares. Following the Internal Reorganization, PCC is the direct holder of 664,096,506 Common Shares, representing 100% of the issued and outstanding Common Shares. In addition, pursuant to the Internal Reorganization, 500,000,000 Third Preferred Shares of … Continue reading \"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-31T21:33:36+00:00","og_image":[{"url":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial","datePublished":"2020-12-31T21:33:36+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/"},"wordCount":276,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#primaryimage"},"thumbnailUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/","name":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial - Market Newsdesk","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#primaryimage"},"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#primaryimage"},"thumbnailUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231","datePublished":"2020-12-31T21:33:36+00:00","author":{"@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"breadcrumb":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#primaryimage","url":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231","contentUrl":"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=C4851&Transmission_Id=202012311630CANADANWWEB______C4851&DateId=20201231"},{"@type":"BreadcrumbList","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/power-corporation-announces-completion-of-internal-share-capital-reorganization-of-power-financial\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.marketnewsdesk.com\/"},{"@type":"ListItem","position":2,"name":"Power Corporation Announces Completion of Internal Share Capital Reorganization of Power Financial"}]},{"@type":"WebSite","@id":"https:\/\/www.marketnewsdesk.com\/#website","url":"https:\/\/www.marketnewsdesk.com\/","name":"Market Newsdesk","description":"Latest Business News in Real Time","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.marketnewsdesk.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979","name":"Newsdesk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a0d0bd5b0f0ca12a265a459b13169dac35f33776d8501eda5e68844a366f2f46?s=96&d=mm&r=g","caption":"Newsdesk"},"url":"https:\/\/www.marketnewsdesk.com\/index.php\/author\/newsdesk\/"}]}},"_links":{"self":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/407028","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/comments?post=407028"}],"version-history":[{"count":0,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/posts\/407028\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/media?parent=407028"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/categories?post=407028"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.marketnewsdesk.com\/index.php\/wp-json\/wp\/v2\/tags?post=407028"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}