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Pacific &; Western Credit Corp. Announces Results of Special Meeting of Class ";A"; Preferred Shareholders

^{Published on 2009-07-27 07:54:54, Last Modified on 2009-07-27 07:55:01 - Market Wire}
 

 LONDON, ON, July 27 /CNW/ - Pacific & Western Credit Corp. (TSX:PWC) wishes to announce that at the Special Meeting of the Class "A" Preferred Shareholders held today the resolution authorizing an amendment to the Articles of PWC to amend the share provisions attached to the Class "A" Preferred Shares was passed. The Class "A" Preferred Shares may now be converted, at the option of the holders, into Class "B" Preferred Shares, at a rate of 0.12 of a Class "B" Preferred Share for each Class "A" Preferred Share converted. The right to convert may only be exercised up to and including August 28, 2009. The effective date of the conversion of the Class "A" Preferred Shares will be August 31, 2009. All conversions are strictly voluntary. Additional material relating to the Special Meeting of the Class "A" Preferred Shareholders can be found on SEDAR at [ www.sedar.com ] and at our website at [ http://pwbank.com/investor/meetings ]. Pacific & Western Credit Corp.'s shares trade on the TSX under the symbol PWC. To receive company news releases, please contact: Carla McPhee at [ carlam@pwbank.com ], (519) 675-4204

For further information: Investor Relations: (800) 244-1509, [ InvestorRelations@pwbank.com ]; Public Relations & Media: Tel Matrundola, Vice-President, (416) 203-0882, [ telm@pwbank.com ], Visit our website at: [ http://www.pwbank.com ]