Premium Income Corporation Announces Final Class A Share Consolidation Ratio

TORONTO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- (TSX: PIC.A) Premium Income Corporation (the “Fund”) previously announced that in connection with the special retraction right granted to shareholders arising as a result of the extension of the term of the Fund to November 1, 2031, more Preferred shares than Class A shares were retracted and accordingly, the Fund anticipated consolidating its Class A shares on or about November 12, 2024 such that post-consolidation, there would be an approximately equal number of Preferred shares and Class A shares of the Fund outstanding. The Fund is pleased to announce that the consolidation of the Class A shares was completed prior to the opening of trading today. Under the consolidation, each Class A share was consolidated into 0.6767938 of a Class A share. The total value of a shareholder’s investment in Class A shares did not change, however, the number of Class A shares reflected in the shareholder’s account was reduced and the net asset value per Class A share increased proportionately. No fractional shares were issued. Investors are advised that, as a result of the consolidation, the CUSIP number for the Class A shares of the Fund changed to 740910781.

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