Full Story:
TORONTO, Dec. 22 /CNW/ - EGI Financial Holdings Inc. (TSX:EFH) today
announced that it has authorized the redemption of its Series F special shares and has fully repaid its outstanding loan from Co-operators General Insurance Company. The loan repayment cost was $1.7 million, including accrued interest. The Series F share redemption price will be $1.0511 per share, or $2.4 million in total, to be paid on January 31, 2006, the effective redemption date. The Corporation used part of the proceeds of its recent initial public offering to fund the loan repayment and share redemption, as previously disclosed.
Founded in 1997, EGI Financial operates in the property and casualty
insurance industry in Canada, primarily focusing on non-standard automobile insurance and other niche and specialty general insurance products.
For further information: Douglas E. McIntyre, Chief Executive Officer,
EGI Financial Holdings Inc., (905) 565-7960.
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