Equitable Announces Special Meeting of Shareholders October 5, 2021
The meeting will be held in a virtual-only format on
"We have studied the electronic trading and volatility patterns for our stock, and we believe this can contribute to reducing bid-ask spreads and increase inventory at brokerages, while expanding accessibility for retail investors," said
If approved by shareholders and the
"Our growth and performance over the last few years has been excellent, and is reflected in our share price as we are currently the highest among all other Canadian banks," Westlake continued. "We expect and hope to be able to continue this strong performance after the split and in the years ahead as we drive change in Canadian banking to enrich people's lives."
This requires approval of holders representing at least two-thirds of the company's common shares that vote at the meeting, and remains subject to approval by the TSX.
More information about online participation will be available in our Virtual User Guide, which will be available at www.equitablebank.ca and at Envision at www.envisionreports.com/EQBSpecial2021 in advance of the meeting date.
Cautionary Note Regarding Forward-Looking Statements
Statements made by in the sections of this news release, in other filings with Canadian securities regulators and in other communications include forward-looking statements within the meaning of applicable securities laws (forward-looking statements). These statements include, but are not limited to, statements about Equitable and the Bank's objectives, strategies and initiatives, financial performance expectations and other statements made herein, whether with respect to Equitable's businesses or the Canadian economy.
In particular, this news release contains forward-looking information relating to the timing of the meeting and the anticipated impact of a two-for-one share split on our common shares and future dividend payments.
Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "planned", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases which state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved", or other similar expressions of future or conditional verbs. Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, closing of transactions, performance or achievements of Equitable or the Bank to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks associated with the ability of Equitable to obtain the required shareholder and regulatory approvals to complete the share split, to capital markets and additional funding requirements, fluctuating interest rates and general economic conditions, legislative and regulatory developments, changes in accounting standards, the nature of our customers and rates of default, and competition as well as those factors discussed under the heading "Risk Management" in the MD&A and in Equitable's documents filed on SEDAR at www.sedar.com. All material assumptions used in making forward-looking statements are based on management's knowledge of current business conditions and expectations of future business conditions and trends, including their knowledge of the current credit, interest rate and liquidity conditions affecting Equitable and the Canadian economy. Although Equitable believes the assumptions used to make such statements are reasonable at this time and has attempted to identify in its continuous disclosure documents important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. Certain material assumptions are applied by Equitable in making forward-looking statements, including without limitation, assumptions regarding its continued ability to fund its mortgage business, a continuation of the current level of economic uncertainty that affects real estate market conditions, continued acceptance of its products in the marketplace, as well as no material changes in its operating cost structure and the current tax regime. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Equitable does not undertake to update any forward-looking statements that are contained herein, except in accordance with applicable securities laws.