Prospectus excerpt: The 5.80% Preferred Shares, Series I (the ‘‘Series I Preferred Shares’’) will be entitled to fixed cumulative preferred cash dividends of $1.45 per share per annum, as and when declared by the board of directors of George Weston Limited (the ‘‘Company’’), which will accrue from the date of issue and will be payable quarterly on the 15th day of March, June, September and December in each year with the initial dividend, if declared, payable on March 15, 2002 in the amount of $0.4012 per share (assuming a December 4, 2001 issue date). See ‘‘Details of the Offering’’.
The Company may, at its option, at any time grant the holders of Series I Preferred Shares the right, but not the obligation, to convert their shares upon notice into a further series of preferred shares of the Company. See ‘‘Details of the Offering’’.
On and after December 15, 2006, the Company may, at its option, on not less than 30 nor more than 60 days’ notice, redeem for cash the Series I Preferred Shares, in whole or in part, at $26.00 per share if redeemed prior to December 15, 2007, $25.75 if redeemed on or after December 15, 2007 and prior to December 15, 2008, $25.50 if redeemed on or after December 15, 2008 and prior to December 15, 2009, $25.25 if redeemed on or after December 15, 2009 and prior to December 15, 2010 and $25.00 if redeemed on or after December 15, 2010, in each case together with all accrued and unpaid dividends to the date of redemption. See ‘‘Details of the Offering’’.