Demand for shares has exceeded the $140 million limit authorized by the Québec government by nearly $26 million
Montréal, September 30, 2019 - At the end of the September 3 to September 23, 2019 pre-subscription period for Capital régional et coopératif Desjardins (CRCD) shares, 56,538 persons had completed an application to subscribe for shares for an aggregate amount of $165,686,600, or an average of $2,930 per investor. With the authorized limit set at $140 million by the Québec government, 47,720 Quebec taxpayers will be able to benefit from the provincial tax credit of 35%. As announced previously, the maximum share amount available for subscription in 2019 remains unchanged at $3,000 per investor.
In accordance with the terms of the offering prospectus approved by the Autorité des marchés financiers, investors who can purchase shares were selected at random last Friday under the supervision of the Desjardins Group Monitoring Office. All those who completed an application will be advised by email or regular mail starting today. All selected investors will have until 8:00 p.m. on November 8, 2019 to complete their subscription online.
Simplified subscription method extended to all investors
"This year, the simplified online share subscription process is available to all investors," stated Luc Ménard, Chief Operating Officer of Desjardins Capital, the entity which manages the CRCD fund. "All selected investors, whether or not they are already CRCD shareholders, will be able to subscribe directly online via AccèsD, without having to make an appointment at a caisse. Investors who do not use AccèsD and those seeking advice should contact an advisor at a caisse."
If any selected investors do not complete a share purchase, the next investors on Friday's randomly established list will be contacted as of November 14, 2019 until the authorized issue limit is fully reached.
The CRCD shares are not guaranteed, their value fluctuates and their past performance is not indicative of their future returns. Investment fees may apply. Please read the prospectus before investing.
About Capital regional et coopératif Desjardins
With more than 105,000 shareholders, Capital régional et coopératif Desjardins (CRCD) is a public company with $2,212 million in net assets. CRCD contributes to Québec economic development through several levers developed with its manager, Desjardins Capital. These levers, with CRCD as the driving force, form an entrepreneurial ecosystem designed to value and nurture the best of Québec entrepreneurship. CRCD supports the growth of some 500 businesses, cooperatives and funds in various industries spanning all Québec regions, helping to create and retain more than 60,500 jobs. (https://www.capitalregional.com/en)