EDMONTON, December 12, 2013 – Canadian Western Bank (TSX: CWB) today confirmed the required approval of shareholders respecting the proposed amendment to CWB’s By-law Three, permitting an unlimited number of First Preferred shares to be issued, up to an aggregate consideration of $1.0 billion for all First Preferred shares outstanding at any time.
CWB had reached the maximum number of authorized preferred shares under By-law Three and, prior to shareholders’ approval of this amendment, was unable to issue additional preferred shares.
The special resolution to amend By-law Three was passed by 99.3% of votes cast by holders of common shares and 97.0% of votes cast by holders of First Preferred shares, Series 3.
For Further Information Contact:
Kirby Hill, CFA
Vice President, Strategy & Communications
Canadian Western Bank
Phone: (780) 441-3770
Email: [email protected]
Tracey Ball, FCA
Executive Vice President & CFO
Canadian Western Bank
Phone: (780) 423-8865