The shares of the Series A Preferred Stock (NYSE: MTBPr) and the shares of the Series C Preferred Stock (NYSE: MTBPrC) will be redeemed on August 30, 2019 (the "
Redemption Date") at a
redemption price of USD 1,000 per share, plus all accrued and unpaid dividends to, but excluding, the
Redemption Date (the "
Redemption Price").
It is indeed true that the Supreme Court allowed
redemption in certain cases even after the lapse of the one-year period: (a) in order to promote justice and avoid injustice; or (b) where it upheld the policy of the law to aid rather than defeat the right of
redemption was expressed, stressing that where no injury would ensue, liberal construction of
redemption laws is pursued and the exercise of the right to
redemption is permitted to better serve the ends of justice; or (c) that the rule was liberally interpreted in favor of the original owner of the property to give him another opportunity, should his fortunes improve, to recover his property.
This change is temporary since the same AGM also resolved on a
redemption of the new shares.
The Series E Depositary Shares will be redeemed on December 28, 2018 (the "
Redemption Date") at a
redemption price of $25.00 per Series E Depositary Share, representing an aggregate amount of $200,000,000, plus all accrued and unpaid dividends from, and including, September 30, 2018 to, but excluding, the
Redemption Date (the "
Redemption Price").
On or before December 30, 2016, the Notes should be presented to The Bank of New York Mellon Trust Company, N.A., as paying agent for the
redemption, at the address set forth in the Notice of
Redemption for the Notes.
Assuming the
redemption is not treated under applicable tax law as a constructive distribution to the other spouse (see the discussion later in this section), the transaction between the transferor spouse (the spouse who actually transfers shares to the corporation in exchange for
redemption proceeds) and the corporation is taxed under the normal stock
redemption rules (Regs.
The companies can, however, issue the said bonus shares subsequent to
redemption of preference shares under Section 85 of the 1984 Companies Ordinance.
Lamar Media expects the notes to be redeemed on August 29, 2012 at a
redemption price equal to 101.104% of the principal amount of outstanding Notes, plus accrued and unpaid interest to, but not including, the
Redemption Date.
In either case, the
redemption price will also include interest accrued on the notes to the
redemption date, the company said.
John Massey found his calling in transforming the lives of young people when, as pastor of the
Redemption Church of Christ, he was struggling to pay the tuition for his own children to attend Loudinville Christian School.
In
Redemption, a world premiere, Ronald K Brown promised an extension of the pilgrims' progress toward spiritual and political activista seen in last year's Come Ye.
