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Intact Financial Corporation (TSX: IIC | Quote | Chart | News | PowerRating) announced today that it has filed a preliminary short form base shelf prospectus with the securities regulatory authorities throughout Canada. These filings would allow Intact to offer over a 25-month period an aggregate of any combination of up to $2 billion in debt, preferred or common share securities, subscription receipts, warrants, share purchase contracts and units subject to a receipt being received for a final short form base shelf prospectus. These filings replace a similar prospectus filed in October 2007 and reflect the resolutions approved by the shareholders at their May 13 meeting to change the name and authorized capital of the company.
The nature, size and timing of any financings would be dependent upon Intact's assessment of its requirements for funding and general market conditions. At the time any securities covered by the base shelf prospectus are offered for sale, a prospectus supplement containing specific information regarding the terms of the securities being offered would be provided. Unless otherwise specified in the prospectus supplement, the net proceeds from the sale of securities would be used by Intact for general corporate purposes.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful, prior to qualification under the securities laws of any such jurisdiction. Securities that would be issued would not be registered under the United States Securities Act of 1933 and would not be offered, sold or delivered, directly or indirectly, in the United States of America, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, a U.S. person (as defined in Regulation S under the U.S. Securities Act of 1933) except in certain transactions exempt from the requirements of the U.S. Securities Act of 1933.
About Intact Financial Corporation
Intact Financial Corporation is the largest provider of property and casualty insurance in the country with over $4 billion in premiums. Its 7,000 employees offer home, auto and business insurance under the Intact Insurance, Intact Group Insurance, belairdirect and Grey Power brands. Intact Financial Corporation, formerly known as ING Canada, became a widely held Canadian company on February 19 of this year following the completion of a private placement and a secondary offering whereby institutional and retail investors acquired ING Groep's shares in the company. On Tuesday, May 19, the company's TSX symbol will be changed to "IFC".
SOURCE: Intact Financial Corporation
Media inquiries: Gilles Gratton, Vice President, Corporate Communications, (416) 217-7206, gilles.gratton@intact.net; Investor inquiries: Michelle Dodokin, Vice President, Investor Relations, (416) 344-8044, michelle.dodokin@intact.net
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