announced that its Board of Directors has authorized the repurchase of up to $2 billion of the Company's common stock from time to time prior to January 30, 2021
, on the open market or in privately negotiated transactions, in compliance with applicable securities laws and other legal requirements.
The Warrants will expire on January 30, 2021
. All Shares issued pursuant to the Offering are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation.
The dividend rate applicable to the Series 5 Shares for the five-year period commencing on January 30, 2016 to, but excluding, January 30, 2021 will equal the Government of Canada five-year bond yield on December 31, 2015 plus 1.54 per cent.
Holders of the Series 5 Shares and the Series 6 Shares will have the opportunity to convert their shares again on January 30, 2021, and every five years thereafter as long as the shares remain outstanding.
Canadian flag carrier Air Canada and the government of Canada said they have agreed to an extension of Air Canada's pension funding arrangements to January 30, 2021
the term will end january 30, 2021
. the final date to submit questions is on april 6, 2017.
The first shall be established no later than 31 January 2018 and the second January 30, 2021