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Great West Life Co (GWO) Nil Par Value

Sell:31.38 CAD Buy:31.57 CAD Change: 0.25 CAD (0.80%)
Market closed |  Prices as at close on 24 May 2019 | Switch to live prices |
Tender Offer

Great West Life Co Nil Par Value

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 26 Mar 2019)

What is happening?

 

The Company has announced proposals for a Tender Offer to purchase up to CAD2 billion worth of Great West Life Co Shares. Great West Life Co holders may elect to tender some or all of their Shares for repurchase by the Company, at a ‘Purchase Price’ to be determined. The Purchase Price will be the lowest tender price per Share at which valid tenders are received in respect of an aggregate purchase price of up to CAD2 billion.

 

The Company is inviting Shareholders to tender (i.e. sell) some or all of their Shares at a minimum price which is not less than CAD30.00 or greater than CAD35.00 (in increments of CAD0.10, e.g. CAD30.00, CAD30.10, CAD30.20, CAD30.30, etc.). Shareholders can elect to tender Shares for sale at different prices or at the Purchase Price but all Shares successfully tendered will be purchased at the Purchase Price.

 

Any Shares tendered at a price higher than the Purchase Price will not be purchased under the Tender Offer; Shares tendered at a lower price than the Purchase Price will be purchased and satisfied in full. However, if Tender elections are received for more than the aggregate purchase price of up to CAD2 billion then Shareholders’ tenders at the eventual Purchase Price may be subject to scaling back.

 

Please also note that Shareholders with a holding of 99 Shares or less who tender their entire holding will have their instruction to tender treated preferentially under the offer.

 

What are my options?

 

Option 1 – Tender a number of Shares at a price between CAD30.00 and CAD35.00 (in increments of CAD0.10). In order to participate in this Tender Offer an election must be received in this office by noon on Wednesday 10 April 2019, at which point your tendered Shares will be removed from your portfolio. Any election must state the number of Shares you wish to tender and the price at which you wish to tender. If you do not state the price at which you wish to tender your Shares in the additional comments box when giving your election it will be assumed that you have elected to tender your Shares at the Purchase Price.

 

Option 2 - Tender a number of Shares at the Purchase Price. Shareholders can tender their Shares without specifying a price. Any election must state the number of Shares you wish to tender.

 

Option 3 – Take no action. Shareholders are not obliged to tender any number of Shares. If you do not return an instruction no Shares will be tendered on your behalf and your holding will remain unchanged.

 

All instructions must be received in this office by noon on Wednesday 10 April 2019.

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:31.38 CAD
Buy:31.57 CAD
Change: 0.25 CAD (0.80%)
Deal now Deal for just £11.95 per trade in a ISA, Lifetime ISA, SIPP or Fund & Share Account
Market closed |  Prices as at close on 24 May 2019 | Switch to live prices |
Tender Offer

Great West Life Co Nil Par Value

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 26 Mar 2019)

What is happening?

 

The Company has announced proposals for a Tender Offer to purchase up to CAD2 billion worth of Great West Life Co Shares. Great West Life Co holders may elect to tender some or all of their Shares for repurchase by the Company, at a ‘Purchase Price’ to be determined. The Purchase Price will be the lowest tender price per Share at which valid tenders are received in respect of an aggregate purchase price of up to CAD2 billion.

 

The Company is inviting Shareholders to tender (i.e. sell) some or all of their Shares at a minimum price which is not less than CAD30.00 or greater than CAD35.00 (in increments of CAD0.10, e.g. CAD30.00, CAD30.10, CAD30.20, CAD30.30, etc.). Shareholders can elect to tender Shares for sale at different prices or at the Purchase Price but all Shares successfully tendered will be purchased at the Purchase Price.

 

Any Shares tendered at a price higher than the Purchase Price will not be purchased under the Tender Offer; Shares tendered at a lower price than the Purchase Price will be purchased and satisfied in full. However, if Tender elections are received for more than the aggregate purchase price of up to CAD2 billion then Shareholders’ tenders at the eventual Purchase Price may be subject to scaling back.

 

Please also note that Shareholders with a holding of 99 Shares or less who tender their entire holding will have their instruction to tender treated preferentially under the offer.

 

What are my options?

 

Option 1 – Tender a number of Shares at a price between CAD30.00 and CAD35.00 (in increments of CAD0.10). In order to participate in this Tender Offer an election must be received in this office by noon on Wednesday 10 April 2019, at which point your tendered Shares will be removed from your portfolio. Any election must state the number of Shares you wish to tender and the price at which you wish to tender. If you do not state the price at which you wish to tender your Shares in the additional comments box when giving your election it will be assumed that you have elected to tender your Shares at the Purchase Price.

 

Option 2 - Tender a number of Shares at the Purchase Price. Shareholders can tender their Shares without specifying a price. Any election must state the number of Shares you wish to tender.

 

Option 3 – Take no action. Shareholders are not obliged to tender any number of Shares. If you do not return an instruction no Shares will be tendered on your behalf and your holding will remain unchanged.

 

All instructions must be received in this office by noon on Wednesday 10 April 2019.

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Sell:31.38 CAD
Buy:31.57 CAD
Change: 0.25 CAD (0.80%)
Market closed |  Prices as at close on 24 May 2019 | Switch to live prices |
Tender Offer

Great West Life Co Nil Par Value

Type:
Tender Offer
Shareholder action required:
Yes
Status:
Update Pending
Details (last updated 26 Mar 2019)

What is happening?

 

The Company has announced proposals for a Tender Offer to purchase up to CAD2 billion worth of Great West Life Co Shares. Great West Life Co holders may elect to tender some or all of their Shares for repurchase by the Company, at a ‘Purchase Price’ to be determined. The Purchase Price will be the lowest tender price per Share at which valid tenders are received in respect of an aggregate purchase price of up to CAD2 billion.

 

The Company is inviting Shareholders to tender (i.e. sell) some or all of their Shares at a minimum price which is not less than CAD30.00 or greater than CAD35.00 (in increments of CAD0.10, e.g. CAD30.00, CAD30.10, CAD30.20, CAD30.30, etc.). Shareholders can elect to tender Shares for sale at different prices or at the Purchase Price but all Shares successfully tendered will be purchased at the Purchase Price.

 

Any Shares tendered at a price higher than the Purchase Price will not be purchased under the Tender Offer; Shares tendered at a lower price than the Purchase Price will be purchased and satisfied in full. However, if Tender elections are received for more than the aggregate purchase price of up to CAD2 billion then Shareholders’ tenders at the eventual Purchase Price may be subject to scaling back.

 

Please also note that Shareholders with a holding of 99 Shares or less who tender their entire holding will have their instruction to tender treated preferentially under the offer.

 

What are my options?

 

Option 1 – Tender a number of Shares at a price between CAD30.00 and CAD35.00 (in increments of CAD0.10). In order to participate in this Tender Offer an election must be received in this office by noon on Wednesday 10 April 2019, at which point your tendered Shares will be removed from your portfolio. Any election must state the number of Shares you wish to tender and the price at which you wish to tender. If you do not state the price at which you wish to tender your Shares in the additional comments box when giving your election it will be assumed that you have elected to tender your Shares at the Purchase Price.

 

Option 2 - Tender a number of Shares at the Purchase Price. Shareholders can tender their Shares without specifying a price. Any election must state the number of Shares you wish to tender.

 

Option 3 – Take no action. Shareholders are not obliged to tender any number of Shares. If you do not return an instruction no Shares will be tendered on your behalf and your holding will remain unchanged.

 

All instructions must be received in this office by noon on Wednesday 10 April 2019.

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.

×
Deal now Deal for just £11.95 per trade in a ISA, Lifetime ISA, SIPP or Fund & Share Account
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Business summary

Great-West Lifeco Inc. (Lifeco) is a financial services holding company. The Company has interests in the life insurance, health insurance, asset management, investment and retirement savings, and reinsurance businesses. It operates through four operating segments: Canada, United States, Europe and Lifeco Corporate. Lifeco has operations in Canada, the United States, Europe and Asia through The Great-West Life Assurance Company, London Life Insurance Company, The Canada Life Assurance Company (Canada Life), Great-West Life & Annuity Insurance Company, Putnam Investments, LLC (Putnam), Canada Life Limited and Irish Life Group Limited (Irish Life). Lifeco, through its operating subsidiaries, provides products and services under various brands, including the Great-West Life brand, London Life brand, the Canada Life brand, the Freedom 55 Financial brand, the Irish Life brand, the Great-West Financial brand, the Empower Retirement brand, and the Putnam Investments and PanAgora brands.

Contact details

Address:
100 Osborne Street North, Stn Main
PO Box 6000
WINNIPEG
R3C 3A5
Canada
Telephone:
+1 (204) 9461190
Website:
https://www.greatwestlifeco.com/

Important dates

Future events
There are no future events available.
Past events
There are no past events available.

General stock information

Short code:
GWO
ISIN:
CA39138C1068
Market cap:
29.15 billion CAD
Shares in issue:
928.05 million
Sector:
Life & Health Insurance
Exchange:
Toronto Stock Exchange
Country:
Canada
Currency:
Canadian dollars
Indices:
n/a

Key personnel

  • R. Jeffrey Orr
    Independent Chairman of the Board
  • Paul Mahon
    President, Chief Executive Officer, Director
  • Garry MacNicholas
    Executive Vice-President, Chief Financial Officer of Lifeco, Great-West, London Life and Canada Life
  • Arshil Jamal
    President and Chief Operating Officer - Europe of Lifeco, Great-West, London Life and Canada Life
  • Jeff Macoun
    President and Chief Operating Officer, Canada
  • Edmund Murphy
    President and Chief Executive Officer of U.S
  • Grace Palombo
    Executive Vice-President, Chief Human Resources Officer of Lifeco, Great-West, London Life and Canada Life
  • Raman Srivastava
    Executive Vice-President and Global Chief Investment Officer, Lifeco, Great-West, London Life and Canada Life
  • Philip Armstrong
    Executive Vice-President and Global Chief Information Officer
  • Andrew Brands
    Executive Vice-President, General Counsel and Compliance of Lifeco, Great-West, London Life and Canada Life

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Business summary, contact details and key personnel provided by Thomson Reuters. Important dates provided by Digital Look Ltd. General stock information provided by Reuters.
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