English
Back

CIXXF.US Dutch Auction

CI FINANCIAL CORP (CIXXF.US), is offering to purchase for shares of the Company’s common stock, without par value, net to the seller in cash, without interest thereon. Participants should obtain the Circular, Letter of Transmittal, and related documents dated 10/11/2023 for complete details of the event.

The terms of the offer are as follows (subject to proration):

Minimum bid: 13.64 CAD
Maximum bid: 15.28 CAD

Participants are advised that this offer has the following feature:
- ODD LOT PREFERENCE: a holder´s entire position must be tendered. Participants entering instructions on behalf of beneficial holders of 99 shares or less, if accepted, will be exempt from any prorated acceptance.
- USD OPTIONS: Participants tendering on behalf of holders who wish to tender specifying a price (Auction Price) not less than C$13.64 and not more than C$15.28 (in increments of C$0.25) and be paid in USD should use contra CUSIP 125SPC014.
- DEEMED DIVIDEND: A Resident Shareholder who disposes of a Share pursuant to the Offer will be deemed to receive a taxable dividend equal to the excess, if any, of the amount paid by the Corporation for the Share, being the Purchase Price, over the paid-up capital thereof for purposes of the Tax Act. The Corporation estimates that on the Expiration Date the paid-up capital per Share should be approximately $10.7284 for purposes of the Tax Act. As a result, the Corporation expects that a Resident Shareholder who disposes of Shares under the Offer will be deemed to receive a taxable dividend.

The terms of the offer are as follows:

Option (1) - Take no action [Default Option].

Option (2) - Tender shares - SPECIFY PRICE (price not less than 13.64 CAD and not more than 15.28 CAD per share). Paid in USD.

Option (3) - Tender shares - No Specified Price (a Purchase Price Tender) and be paid in USD.

***No response is required for holders electing Option (1) ***

Guaranteed Delivery: No

The deadline to tender shares to the offer will be 11/12/2023@ 16:00 (HONG KONG TIME GMT+8).

In the absence of an election, no action will be taken.

Please fill in the following information and use the registered email address of Futu to send an email to cs@futuhk.com.
1. Account Number:
2. Name: (In Chinese or English)
3. Stock code: CIXXF.US
4. Options: (1) or (2) or (3)
5. Number of shares participating in corporate actions:

Note to applicants:
1. If shareholders holding 1 share or less of CIXXF.US, they cannot participate in related corporate actions.
2. Option (1) is the default option. We will help clients to choose option 1 if have not received clients’ emails.
3. Once the relevant application is submitted, the stocks participating in the company's actions cannot be traded and the application cannot be withdrawn.
4. This corporate action does not accept additional applications, the maximum number of applications that a client can apply for does not exceed the number of eligible shares it holds.
5. The pending orders and unsettled shares will not be accepted for the time being.
6. Please confirm that the account funds are sufficient to pay the relevant fees of this corporate action. Otherwise, we will not bear any responsibility for the failure of your application.
7. If there is any update, all the information released by the listed company shall prevail.