|By Marketwired .||
|December 12, 2013 03:42 PM EST||
EDMONTON, ALBERTA -- (Marketwired) -- 12/12/13 -- Canadian Western Bank (TSX: CWB) today confirmed the required approval of shareholders respecting the proposed amendment to CWB's By-law Three, permitting an unlimited number of First Preferred shares to be issued, up to an aggregate consideration of $1.0 billion for all First Preferred shares outstanding at any time. CWB had reached the maximum number of authorized preferred shares under By-law Three and, prior to shareholders' approval of this amendment, was unable to issue additional preferred shares.
The special resolution to amend By-law Three was passed by 99.3% of votes cast by holders of common shares and 97.0% of votes cast by holders of First Preferred shares, Series 3.
About Canadian Western Bank Group
Canadian Western Bank offers a full range of business and personal banking services across the four western provinces and is the largest publicly traded Canadian bank headquartered in Western Canada. The Bank, along with its operating affiliates, National Leasing Group, Canadian Western Trust, Valiant Trust, Canadian Direct Insurance, Canadian Western Financial, Adroit Investment Management, and McLean & Partners Wealth Management, collectively offer a diversified range of financial services across Canada and are together known as the CWB Group. The common shares of Canadian Western Bank are listed on the Toronto Stock Exchange under the trading symbol "CWB". The Bank's Series 3 Preferred Shares trade on the Toronto Stock Exchange under the trading symbol "CWB.PR.A". Refer to www.cwb.com for additional information.