Sherman Foundation Press Release.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Sherman Sherman, city (1990 pop. 31,601), seat of Grayson co., N Tex., near the Red River; inc. 1858. Originally on a stagecoach route, it is a highway and railroad junction. Manufactures include electronic equipment, processed foods, military equipment, and metal products. Foundation (the "Foundation") announces that it acquired an aggregate of 331,119 series A preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. (the "Shares") of Counsel Corporation ("Counsel"), comprising approximately 2.9% of the outstanding series A preferred shares of Counsel after the issuance of the Shares. The Foundation owns all 11,278,443 outstanding series A preferred shares of Counsel. The Shares were issued in lieu of Instead of; in place of; in substitution of. It does not mean in addition to. a cash dividend at the price of US$1.50 per Share pursuant to the terms of the series A preferred shares. Each series A preferred share of Counsel is immediately convertible at the option of the holder into one common share of Counsel, subject to adjustments. The Foundation, and any persons acting jointly or in concert with the Foundation, would own an aggregate of 13,692,143 common shares of Counsel, comprising approximately 23.3% of the outstanding common shares of Counsel, assuming the immediate conversion of all of the series A preferred shares owned by the Foundation into common shares of Counsel. The Foundation acquired the Shares for investment purposes and the Foundation and any persons acting jointly or in concert with the Foundation have no intention of acquiring any additional securities of Counsel except pursuant to the terms of the series A preferred shares. A report containing additional information in respect to the foregoing may be obtained by calling Jeffrey Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. at (416) 777-5422. |
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