TORONTO, ON (March 16, 2016) – GMP Capital Inc. (the Corporation) (TSX: GMP, GMP.PR.B) announced today that 1,034,747 of its outstanding 4,600,000 Cumulative 5-Year Rate Reset Preferred Shares, Series B of the Corporation (the Series B Shares) have been tendered for conversion on March 31, 2016, on a one-for-one basis, into Cumulative Floating Rate Preferred Shares, Series C of the Corporation (the Series C Shares). As a result, on March 31, 2016, the Corporation will have 3,565,253 Series B Shares and 1,034,747 Series C Shares issued and outstanding.
The Series B Shares will continue to be listed on the Toronto Stock Exchange under the symbol “GMP.PR.B”. The Series C Shares will be listed on the Toronto Stock Exchange on April 1, 2016, under the symbol “GMP.PR.C”.
The Series B Shares and the Series C Shares have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the U.S. Securities Act), or the securities laws of the United States. Accordingly, the Series B Shares and the Series C Shares may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons, except pursuant to transactions exempt from registration under the U.S. Securities Act or under the securities laws of the applicable state. This press release does not constitute an offer to sell or a solicitation of an offer to buy any security.
This press release contains “forward-looking information” as defined under applicable Canadian securities laws. This information includes, but is not limited to, statements concerning our objectives, our strategies to achieve those objectives, as well as statements made with respect to management's beliefs, plans, estimates, projections and intentions, and similar statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. Specifically, this press release contains forward-looking information with respect to the Corporation, the Series B Shares and the Series C Shares. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans” or “continue”, or similar expressions suggesting future outcomes or events. Such forward-looking information reflects management's current beliefs and is based on information currently available to management.
Forward-looking information is not a guarantee of future performance and is subject to numerous risks and uncertainties, including those described in this press release. The Corporation’s primary business activities are both competitive and subject to various risks. These risks include market, credit, liquidity, operational and legal and regulatory risks and other risk factors including, without limitation: variation in the market value of securities, volatility and liquidity of equity and fixed income trading markets, volume of new financings and mergers and acquisitions, dependence on key personnel and sustainability of fees. Other factors, such as general economic conditions, including interest rate and exchange rate fluctuations, may also have an effect on the Corporation’s results of operations. Many of these risks and uncertainties can affect the Corporation’s actual results and could cause its actual results to differ materially from those expressed or implied in any forward-looking information disclosed by management or on its behalf. Additional information about the risks and uncertainties of the Corporation’s business and material factors or assumptions on which information contained in forward-looking information is based is provided in its disclosure materials, including its most recent Management’s Discussion and Analysis and Annual Information Form, filed with the applicable securities regulatory authorities in Canada and available at www.sedar.com.
Although forward-looking information contained in this press release is based upon what management believes are reasonable assumptions, there can be no assurance that actual results will be consistent with this forward-looking information. The forward-looking information contained in this press release is as of the date of this press release, and should not be relied upon as representing the Corporation’s views as of any date subsequent to the date of this press release. Except as required by applicable law, management and the Corporation’s board of directors undertake no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise.
ABOUT GMP CAPITAL INC.
GMP is a leading independent diversified financial services firm headquartered in Toronto, Canada, providing a wide range of financial products and services to a global client base that includes corporate clients, institutional investors and high-net-worth individuals in two integrated reporting segments. The Capital Markets segment provides investment banking, including advisory and underwriting services, institutional sales and trading and research through offices located in Toronto, Montreal, Calgary, New York, Houston, Miami, Dallas, Hong Kong and Beijing. Wealth Management consists of GMP’s non-controlling ownership interest in Richardson GMP Limited. Richardson GMP Limited, Canada’s largest independent wealth management firm, is focused on providing exclusive and comprehensive wealth management and investment services delivered by an experienced team of investment professionals. GMP is listed on the Toronto Stock Exchange under the symbol “GMP”. For further information, please visit our corporate website at gmpcapital.com.
For further information please contact:
GMP Capital Inc.
Rocco Colella, Director, Investor Relations
145 King Street West, Suite 300, Toronto, Ontario M5H 1J8
Tel: (416) 941-0894; Fax: (416) 943-6175
firstname.lastname@example.org or email@example.com