Dundee Corporation Signals Plan to Launch Major Issuer Bid for Series 3 Preferred Shares

TORONTO, Nov. 20, 2023 – In a significant move within the investments sector, Dundee Corporation DC.PR.B and DC.PR.D, a prominent Canadian investment entity, announced its strategy to initiate a substantial issuer bid to repurchase up to C$20,000,005 worth of its Series 3 Preferred Shares. This repurchase is expected to take the form of a formal offer ("the Offer") directly aimed at current shareholders, inviting them to tender their shares for cancellation.

Understanding the Substantial Issuer Bid

In an effort to return value to its stakeholders, Dundee Corporation's Offer is a voluntary process where shareholders have the option to submit, or 'tender', their preferred shares for repurchase by the company. This transaction will see the company buying back a considerable portion of outstanding securities, leading to a potential uptick in share value for the remaining stakeholders.

Implications for Shareholders

For investors holding Series 3 Preferred Shares of Dundee, the proposed Offer presents a unique opportunity. Shareholders who opt to participate could see immediate liquidity benefits, allowing them to redeploy capital in alternate investment vehicles, should they choose. Conversely, those who remain invested may potentially benefit from a reduced share count post-cancellation, commonly resulting in higher per-share metrics and possibly enhanced dividend payouts on the reduced pool of shares.

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