Laurentian Bank (TSE:LB) has released an update.
Laurentian Bank of Canada has announced that holders of its Non-Cumulative Class A Preferred Shares, Series 13, have the option to convert their shares into Series 14 shares on June 17, 2024, subject to certain conditions, with the conversion rates being announced on May 16, 2024. Shareholders who do not convert will retain their Series 13 shares unless certain minimums are not met, leading to automatic conversion. Beneficiaries interested in converting their shares must instruct their broker by May 31, 2024.
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