Redemption & Retraction
- Redemption price of each Class A Preferred Share is its original issuance price of $10.
- Atlantic Advantage MIC may redeem all or any part of its outstanding Preferred Shares upon due notice or consent from Class A Preferred Share shareholders.
Preferred Share shareholders are entitled to have all or any part of his/her holdings purchased back by Atlantic Advantage MIC, subject to certain conditions: -
- The Retraction Right cannot be exercised if this would result in Atlantic Advantage MIC disqualified as a MIC or otherwise violate the provisions of the OSC.
- No Retraction during first 4 months from first issuance date.
- The $10 Redemption Price is subject to following reduction: -
- 5% - During the first 12 months from Shares Certificate Issuance Date.
- 3% - During the next 12 months after 1st anniversary of Shares Certificate Issuance Date.
- 2% - During the next 12 months after 2nd anniversary of Shares Certificate Issuance Date.