WINNIPEG, MANITOBA--(Marketwired - July 18, 2013) -
Not for distribution to U.S. news wire services or dissemination in the United States.
IGM Financial Inc. (IGM.TO) announced today that it was issued 1,950,000 common shares of Great-West Lifeco Inc. ("Lifeco") through a wholly-owned subsidiary, upon the automatic exchange of 1,950,000 Lifeco subscription receipts following the completion of the previously announced acquisition of Irish Life Group Ltd. by Lifeco.
As at July 18, 2013, after taking into account the common shares issued upon automatic exchange of subscription receipts, Lifeco reported that it had 1,000,450,840 common shares outstanding. IGM beneficially owns 39,737,388 Lifeco common shares representing approximately 4% of Lifeco's current outstanding common shares.
IGM holds the Lifeco common shares for investment purposes and, in accordance with applicable securities laws, may increase or decrease its investment in Lifeco depending on market conditions and then relevant factors.
IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with approximately $125 billion in total assets under management. Its activities are carried out principally through Investors Group through a network of over 4,500 Consultants, Mackenzie Financial Corporation through a diversified network of third-party financial advisors and Investment Planning Counsel through a network of financial planners who are dedicated to serving the needs of their clients. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.