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VersaBank — Regulatory Filings 2021
Apr 30, 2021
47151_rns_2021-04-30_56f6abb6-4d74-46af-a1fa-aeac5d36d3a0.pdf
Regulatory Filings
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FORM 51-102F3 MATERIAL CHANGE REPORT
Item 1 Name and Address of Company
VersaBank 2002 – 140 Fullarton Street London, Ontario N6A 5P2
Item 2 Date of Material Change
April 30, 2021
Item 3 News Release
A news release describing the material change was issued on March 31, 2021 through the facilities of Canada News Wire and subsequently filed on SEDAR.
Item 4 Summary of Material Change
VersaBank (the “Bank”) announced that it intends to redeem all outstanding Noncumulative 6-Year Rate Reset Preferred Shares, Series 3 (Non-Viability Contingent Capital (NVCC)) ("Series 3 Preferred Shares") of the Bank on April 30, 2021 (the “Redemption Date”).
Item 5 Full Description of Material Change
5.1 Full Description of Material Change
VersaBank redeemed all outstanding Series 3 Preferred Shares of the Bank on April 30, 2021 at a price equal to $10.00 per share (the “Redemption Price”) together with all declared and unpaid dividends to the Redemption Date. Dividends were paid separately from the Redemption Price.
The redemption was approved by the Office of the Superintendent of Financial Institutions and was financed out of the general funds of the Bank.
5.2 Disclosure for Restructuring Transactions
Not Applicable
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Item 6 Reliance on subsection 7.1(2) of National Instrument 51-102
Not Applicable.
Item 7 Omitted Information
Not Applicable.
Item 8 Executive Officer
For further information, please contact:
David Taylor President & Chief Executive Officer Telephone No: (519) 675-4206
Item 9 Date of Report
April 30, 2021