Stocks in play: Manulife Financial Corporation
Today announced that after having taken into account all election notices received by the September 5, deadline for conversion of its currently outstanding 8,000,000 Non-cumulative Rate Reset Class 1 Shares Series 13 into Non-cumulative Floating Rate Class 1 Shares Series 14 of Manulife, the holders of Series 13 Preferred Shares are not entitled to convert their Series 13 Preferred Shares into Series 14 Preferred Shares. There were 12,850 Series 13 Preferred Shares elected for conversion, which is less than the minimum one million shares required to give effect to conversions into Series 14 Preferred Shares. Manulife Financial Corporation shares T.MFC are trading unchanged at $25.30.
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