ACE Aviation Holdings Inc. (ACE) is a publicly-traded company listed on the Toronto Stock Exchange under the symbol ACE.
On April 25, 2012, ACE’s shareholders approved a special resolution providing for an amendment to the articles of ACE pursuant to which all Class A variable voting shares and Class B voting shares were converted, on a one-for-one basis, into a new class of common shares, each entitled to one vote per share.
The terms of the Common Shares pertaining to dividend entitlements, right to vote and entitlement upon liquidation or dissolution are the same as the rights currently attaching to Class A variable voting shares and Class B voting shares of ACE. The Common Shares carry one vote per share and are not subject to any ownership restriction.
The holders of the Common Shares are entitled to receive notice of, and to attend and vote at, all meetings of the shareholders of ACE and each Common Share confers the right to one vote in person or by proxy at all meetings of shareholders of ACE.
The initial distribution in an aggregate amount of $275 million to be paid to common shareholders of record as of June 1, 2012 and, unless stated otherwise, any subsequent distributions to be paid to common shareholders are hereby designated as “eligible dividends” for purposes of the Income Tax Act (Canada) and any applicable provincial legislation.