Important: the deadline to provide the information required, originally set to be June 13, 2020, has been extended to October 31, 2020. For greater certainty, the statutory deadlines for filing the tax elections with the taxation authorities are not affected by this extension.

If you are a former Power Financial shareholder, the acquisition of your common shares of Power Financial by Power Corporation of Canada pursuant to the reorganization could result in a taxable gain (or loss) for Canadian income tax purposes (for your taxation year which includes February 13, 2020).

The Tax Instruction Letter referenced in Power Financial’s Management Proxy Circular and available below provides shareholders with important information on how to benefit from a tax deferral for Canadian income tax purposes and on how to use the Tax Election Assistant.

The Tax Election Assistant is available to assist shareholders in providing the information required to make a tax election in order to benefit from the tax deferral. You can access it here: https://tax.ca/PowerCorp2020.

In accordance with the pre-emptive right in favour of holders of Participating Preferred Shares included in the Power Corporation of Canada articles, holders of Participating Preferred Shares of record as at 5:00 p.m. (Montréal time) on December 27, 2019 may acquire, on a pro rata basis, such number of Participating Preferred Shares that is equal to 12.0% of the number of Subordinate Voting Shares proposed to be issued pursuant to the reorganization.  

A notice of the offer detailing, among other things, the terms and conditions of the offer and how eligible holders of Participating Preferred Shares may elect to exercise their pre-emptive right has been mailed to holders and is available below.