Canaccord Genuity Group Inc. (CF) Earnings Call Transcript & Summary

Good morning, and welcome to the special meeting of the holders of the Canaccord Genuity Group Inc.'s 6.25% convertible unsecured senior subordinated debentures. My name is David Kassie. I am the Chairman of Canaccord Genuity Group Inc., and I have been appointed to chair today's meeting. In light of the ongoing pandemic, we have provided an option to attend this meeting online in the interest of protecting the health and well-being of all our investors and employees. Despite the online format, we have taken measures to replicate the traditional in-person meeting experience as best as we can to preserve the rights of our debenture holders and proxy holders to address the meeting and to vote on each of the resolutions. I am joined by our President and CEO, Dan Daviau; Don MacFayden, our Executive Vice President and Chief Financial Officer; and Martin MacLachlan, our Senior Vice President of Legal Affairs and Corporate Secretary. On behalf of those of us speaking today, I note that our comments may include forward-looking statements, and I encourage you to take a moment to review the caution regarding forward-looking statements and non-IFRS measures that has been provided as part of this presentation. Before we get started, a couple of procedural matters. Voting instructions were made available in the information that debenture holders received as part of the meeting materials. These materials have also been made available on SEDAR. A registered debenture holder is a debenture holder whose shares are registered in their name. Most debenture holders are not registered debenture holders in that their debentures are held on their behalf or for their account by another person, usually a broker, securities dealer, bank trust company, custodian nominee or similar entity. If you are a registered debenture holder or a proxy holder who has followed the instructions in the meeting materials and received a user name and password, then you will have logged into this meeting with your control number or the username. You may vote and submit questions as shown on the meeting website. If you are not such a registered debenture holder or proxy holder, then you have logged into this meeting as a guest. You will be able to follow the proceedings, but you will only be able to submit questions after the end of the formal business of the meeting. We will conduct the votes on the matter before us by a poll. On a poll, every debenture holder entitled to vote on the matter has 1 vote in respect of each $1,000 principal debenture held by that debenture holder. There will be an opportunity for registered debenture holders and proxy holders to ask questions on each motion and term. Once discussion on all items of business has concluded, I will give you a minute to enter your votes and then declare voting closed. The results of the meeting will be available on our website and SEDAR. I now declare the polls open on all resolutions. If you are a duly appointed proxy holder and have not already voted in advance of the meeting, you may do so now. But you will first need to register to vote by entering the username that has been provided to you by Computershare and entering Canaccord2021, with no spaces and an upper case C as your password. To cast your vote during the meeting, you may select the vote tab at the top right of the webcast page and a separate browser window will open. To submit a question, please use the message icon on the virtual meeting platform. We would ask that any questions or comments submitted online be related only to the matters currently before the meeting, and when submitting questions, that proxyholders provide their name. Any questions not answered during the meeting will be addressed following the meeting. Since our meeting is primarily conducted in an online format, and I am a proxy holder, I will treat all motions as having been duly made and seconded. And now for the official business of today's meeting. The meeting will please come to order. I appoint Jenny Karim, an Officer of Computershare Investor Services, Inc. to be the scrutineer of the meeting. I have received Computershare's report as to debenture representation at today's meeting, and there is a quorum present. So I now declare this meeting to be regularly called and properly constituted for the transaction of business. I have received from Computershare, proof of the mailing of the notice of this meeting. Since you have all received the notice of this meeting and have received or had access to all related materials, this meeting will take them as read. Martin, have we received any questions or comments online?

Mr. Kassie, we have not.

I entertain a motion to approve an extraordinary resolution to approve certain amendments to the indenture dated as of August 22, 2018, related to our 6.25% convertible unsecured senior subordinated debentures, which are set to mature on December 31, 2023. The full text of the extraordinary resolution is set out in Appendix A of the management information circular that was mailed January 29, 2021, and that is available on SEDAR and on our website. This motion is deemed to be duly made and seconded. Martin, have we received any questions or comments online?

We have not Mr. Kassie.