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Aspen Insurance Holdings Ltd, 7.25% Perpetual Non-Cumulative Preference Shares
Ticker Symbol: AHL-B* CUSIP: G05384147 Exchange: NYSE
* NOTE: This security is no longer trading as of 7/01/2017
Security has been Called for: Saturday, July 1, 2017
On May 8, 2017, Aspen Insurance Holdings Limited issued a notice of mandatory redemption in connection with all of its issued and outstanding 7.250% Perpetual Non-Cumulative Preference Shares. The redemption is to take place on July 1, 2017. The redemption will be conducted pursuant to the terms of the certificate of designation, dated April 11, 2012, governing the 7.250% Preference Shares. The redemption price will be $25 per 7.250% Preference Share, representing an aggregate amount of $160,000,000, plus all declared and unpaid dividends to the date of the redemption. As previously disclosed on April 26, 2017, Aspen’s Board of Directors has in fact declared a dividend of $0.4531 per 7.250% Preference Share. The dividend will be payable on July 1, 2017 to the holders of record of 7.250% Preference Shares as of the close of business on June 15, 2017. Aspen has instructed Computershare Inc., located at 250 Royall Street, Canton MA 02021, United States of America, as redemption agent (Attention: Constance Adams; Tel: 201 680 5258).
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Aspen Insurance Holdings Ltd, 7.25% Perpetual Non-Cumulative Preference Shares, liquidation preference $25 per share, redeemable at the issuer's option on or after 7/1/2017 at $25 per share plus declared and unpaid dividends, and with no stated maturity. Non-cumulative distributions of 7.25% per annum ($1.8125 per annum or $0.453125 per quarter) will be paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on the record date that will be 12/15, 3/15, 6/15 & 9/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The dividends are non-cumulative and if the board of directors does not declare a dividend or the company fails to pay a dividend declared by the board for any quarterly dividend period, the holder will not be entitled to receive any dividend for that quarterly period and the undeclared or unpaid dividend will not accumulate. At any time prior to July 1, 2017, the company may redeem the preference shares in whole at a redemption price of $26 per preference share, plus declared and unpaid dividends, only if they submit to the holders of their ordinary shares a proposal for an amalgamation or merger or if they submit any proposal for any other matter that requires, as a result of a change in Bermuda law after the date of this prospectus, for its validation or effectuation an affirmative vote of the holders of the Preference Shares. In addition, following the occurrence of a tax event, they may redeem the preference shares, in whole or in part, at a redemption price of $25 per share, plus declared and unpaid dividends. Dividends paid by these preference shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders (see page S-31 of the prospectus for further information). In regard to the payment of dividends and upon liquidation, the preferred shares rank junior to the company's senior debt, equally with other preferreds of the company, and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (AHL*)
IPO - 4/5/2012 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: AHLPF Changed: 4/10/2012
Market Value $150.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Foreign Address and Phone Numbers |
Address: 141 Front Street, Hamilton, Bermuda HM 19 |
Main Phone Number |
441-295-8201 |
Fax Number |
441-295-1829 |
Address and Phone Numbers |
U.S. Representative |
N.A. |
Address: 590 Madison Ave, 7th Floor, New York, NY 10022 |
Main Phone Number |
Not Available |
Fax Number |
Not Available |
Investor Relations
Mark Jones
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646-289-4945
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Toll Free Phone Number |
Unknown |
CHR - Glyn P. Jones |
CFO - Scott Kirk |
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