The Globe and Mail - 11.03.2020

LEGALS DIVIDENDS

NOTICEOFRECOGNITIONORDERS

INTHE MATTER OF SENVIONGMBH

PLEASE BEADVISED that thisNoticeis beingpublished pursuant to

anorderoftheOntarioSuperiorCourtof Justice(CommercialList),

Court FileNo.:CV-20-00 636651 -00CL(the“CanadianCourt”)granted

onFebruary 26, 2020.

PLEASE TAKENOTI thCE at,onApril 9, 2019 ,Senvion GmbH,

(“Senvion”),filed for insolvencywith theLocalCourtofHamburg,

Germany,undertheGermanInsolvencyAct(theInzolvenzordnung)

(the“GermanProceedings”).

PLEASE TAKE FURTHERNOTICE that ,onthe applicationofSenvion

asForeignRepresentativefor itself,anInitialRecognitionOrderand

aSupplementalOrder(together,the“RecognitionOrders”)have

been issuedby theCanadianCourt underPartIVoftheCompanies’

Creditors Arrangement Act,R.S.C.1 98 5,c.C-36,that,amongother

things:(i) recognizetheGermanProceedingsasaforeignmain

proceeding;(ii) recognizeSenvionastheForeignReprese ntativeof

itself;(iii) stayallproceedingsagainst SenvioninCanada;and(iv)

appoint TheFullerLandauGroupInc.astheInformationOfficer.

PLEASE TAKE FURTHERNOTICE thatpersonswhowish toreceivea

copyoftheRecognitionOrdersorobtainanyfurtherinformationin

respect thereof orinrespectofthematters setforth in thisNotice,

shouldcontact theInformationOfficerattheaddress below:

THE FULLERLANDAU GROUPINC.

151 Bloor Street 1 W., 2 thFloor

Toronto,ONM 5 S 1 S4

Attention: KenPearl

Phone:416.6 4 5.65 00

Fax: 416.6 4 5.65 01

Email: [email protected]

PLEASE FINALLY NOTE thattheRecognitionOrders,andanyother

orders thatmaybegrantedby theCanadianCourt,canbeviewedat

https://fullerllp.com/active_engagements/senvion-gmbh/

NOTICE OF DIVIDENDS

On March 5, 2020, the Board of Directors of BCE Inc.

declared the following dividends, payable to holders

of its shares at the close of business on the record

dates indicated:

Dividend

No. Amount Record Date Payment Date

Per Cumulative Redeemable First Preferred Share:

•Series R 78 $0.258125 May 1, 2020 June 1, 2020

•Series S 241 Floating March 31, 2020 April 13, 2020

•Series S 242 Floating April 30, 2020 May 12, 2020

•Series T 54 $0.1886875 March 31, 2020 May 1, 2020

•Series Y 227 Floating March 31, 2020 April 13, 2020

•Series Y 228 Floating April 30, 2020 May 12, 2020

•Series Z 70 $0.244 May 1, 2020 June 1, 2020

•Series AA 73 $0.22563 May 1, 2020 June 1, 2020

•Series AB 151 Floating March 31, 2020 April 13, 2020

•Series AB 152 Floating April 30, 2020 May 12, 2020

•Series AC 69 $0.27375 May 1, 2020 June 1, 2020

•Series AD 145 Floating March 31, 2020 April 13, 2020

•Series AD 146 Floating April 30, 2020 May 12, 2020

•Series AE 159 Floating March 31, 2020 April 13, 2020

•Series AE 160 Floating April 30, 2020 May 12, 2020

•Series AF 54 $0.2415625 March 31, 2020 May 1, 2020

•Series AG 54 $0.175 March 31, 2020 May 1, 2020

•Series AH 159 Floating March 31, 2020 April 13, 2020

•Series AH 160 Floating April 30, 2020 May 12, 2020

•Series AI 54 $0.171875 March 31, 2020 May 1, 2020

•Series AJ 104 Floating March 31, 2020 April 13, 2020

•Series AJ 105 Floating April 30, 2020 May 12, 2020

Dividends paid by BCE to Canadian residents are eligible dividends for

Canadian income tax purposes.

Michel Lalande

Chief Legal Officer and Corporate Secretary, BCE Inc.

MEETING NOTICES

Dividends

Notice is hereby given that the following dividends have been declared.

Issuer Issue Record Payable Rate

Date Date

Clarke Inc. Common March 18, 2020 March 25, 2020 Pro rata

dividend-in-kind

Crescent Point Energy Corp. Common March 15, 2020 April 1, 2020 $0.01

ECN Capital Corp. Common March 31, 2020 April 15, 2020 $0.025

ECN Capital Corp. Preferred March 18, 2020 April 1, 2020 $0.40625

Series A

ECN Capital Corp. Preferred March 18, 2020 April 1, 2020 $0.390625

Series C

Hammond Power Class A March 19, 2020 March 26, 2020 $0.085

Solutions Inc.

Pembina Pipline Corp. Common March 25, 2020 April 15, 2020 $0.21

NOTICEOFANNUAL

MEETINGOF

SHAREHOLDERS

TheAnnualMeetingof

ShareholdersofBankof

Montreal will commence

at9: 30 a.m.(Local Time)on

Tuesday,March31, 2020 at

theBMOInstituteforLearning,

355 0Pharmacy Avenue,

Toronto,Ontario,Canada.

By Orderofthe

BoardofDirectors

BARBARAM.MUIR

CorporateSecretary

February3, 2020

NoticeofAnnual

MeetingofCommon

Shareholdersof

RoyalBankofCanada

When: Wednesday,April8,2020

9:30 a.m.

(Eastern Time)

Where:MetroToronto

ConventionCentre

North Building

John Bassett Theatre

255 Front Street West

Toronto, Ontario

Shareholders are encouraged

to vote by proxy as early as

possible so their shares are

represented at the meeting.

In addition, shareholders

who donʼt plan on attending

the meeting in person can

participate and ask questions

online through a live webcast

atrbc.com/investorrelations.

MEETING NOTICES

EMERAINC.

NOTICEOF

SHAREHOLDERSMEETING

AnannualmeetingoftheshareholdersofEmeraIncorporated

will beheldattheDesign Exchange, 23 4Bay Street,Toronto,

Ontario,Canadaon Thursday,May 14 , 2020 at 2:00p.m.Eastern

time.

Commonshareholdersofrecordasofthecloseofbusinesson

Thursday,March 19 , 2020 andtheirproxyholdersareentitledto

attendandvoteonthebusinessoftheMeeting.

By OrderoftheBoardofDirectors,

Stephe fnD.Atanas

CorporateSecretary

Shouldyouhaveany questionsorcomments,youmaycontact

EmeraIncorporatedbywritingtoStephenD.Aftanas,Corporate

Secretary,P.O.Box9 10 ,Halifax,NovaScotia B3J 2 W5 orby

calling1 80035 8- 199 5fromanywhereinNorthAmericaor

902 428- 6060 within theHalifax-Dartmoutharea.

HaveTheGlobe

andMaildelivered

toyourdoor

CALL1-800-387-5400

TGAM.CA/SUBSCRIBE

Tolearnhow,pleasevisit

tgAm.cA/securedrop

WE’RESERIOUSABOUT

PROTECTINGOURSOURCES.

WEDNESDAY,MARCH11,2020 | THEGLOBEANDMAILO B3

Leading U.S. airlines on Tuesday
ditched 2020 forecasts and un-
veiled more sweeping capacity
cuts and cost-saving measures in
response to the spreading coro-
navirus, whileUnited Airlines
Inc.warned of a deep hit to the
sector.
Speaking at an industry con-
ference, United president Scott
Kirby said he was preparing for a
“dire scenario” under which rev-
enue could fall as much as 70 per
cent in April and May, and 20 per
cent in November and Decem-
ber.
The sector has been hard-hit
as tourists cancel trips and busi-
nesses across the globe clamp
down on anything other than es-
sential travel over the fast-
spreading epidemic, sparking a
string of steps by airlines to tack-
le the impact of the outbreak.
Chicago-based United has tak-
en some of the most aggressive
measures to date, saying on
Tuesday it had raised US$2-bil-
lion in new capital to bring liq-
uidity to US$8-billion and
slashed its 2020 capital expendi-
ture by more than a third to
about US$4.5-billion.
“Let me blunt. Hope is not a
strategy,” Mr. Kirby told inves-
tors, saying it could take the in-
dustry two to three years to fully
recover.
United will not take jet deliv-
eries or add capacity back to the
market until it sees demand re-
turning, he said. The airline ex-
pects to post a first-quarter loss
because of the crisis, and Mr. Kir-
by and chief executive Oscar Mu-
noz are forgoing their base sala-
ries until June 30.
Delta Air Lines Inc.said it had
seen net bookings fall by as
much as 25 per cent to 30 per
cent and expected the situation
to worsen further.

Delta is cutting domestic ca-
pacity by 10 per cent to 15 per
cent and international by 20 per
cent to 25 per cent and freezing
hiring across the company, offer-
ing voluntary leave options to
staff and looking at early retire-
ment of older aircraft.
The U.S. airlines have all said
that strong balance sheets, sig-
nificantly lower debt levels and
sizeable cash reserves versus pri-
or crises make them better pre-
pared to weather the crisis, but
do not rule out additional capital
raising or cost-cutting.
Also speaking on Tuesday,
American CEO Doug Parker said
his airline had US$73-billion in
available capital and was eyeing
cost savings such as reduced pi-
lot training classes.
The airline, which is cutting
domestic capacity by 7.5 per cent
in April and international by 10
per cent for the coming summer
season, also expects a fall in fuel
prices to save US$3-billion in
2020 costs. Oil sank around a
fifth in value on Monday.
American, Delta and United
have also suspended share buy-
backs and said they were pre-
pared to take additional mea-
sures as needed.
In a message to employees on
Monday, Southwest CEO Gary
Kelly said he was taking a 10-per-
cent pay cut in response to a “se-
vere recession” for the airline in-
dustry.
In an effort to encourage
bookings, the largest U.S. airlines
are allowing passengers to re-
book tickets through April 30
without paying fees to change
flights and others are running
significant fare sales or cutting
prices on some routes.
Alaska Airlines is advertising
airfares as low as US$25 one way,
while Spirit Airlines said it was
cutting fares by up to 70 per cent.
Speaking on Tuesday, Spirit
CEO Ted Christie highlighted the
budget carrier’s low-cost struc-
ture.
“Anyone can sell low fares, the
issue is who can sell low fares at
a profitable level?”

REUTERS

UNITED (UAL)
CLOSE: US$52.56, UP US$5.78
DELTA (DAL)
CLOSE: US$45.47, UP US$1.95

U.S.airlines

cancel2020

outlooks,

makecutsas

virusspreads

TRACYRUCINSKI
RACHITVATS

Let me blunt.

Hope is not a strategy.

SCOTTKIRBY

UNITED AIRLINES PRESIDENT

REPORTONBUSINESS|

Nygard Group of Companies is seeking

protection from its creditors under the

Canadian Bankruptcy and Insolvency Act

while it works to come up with a restruc-

turing plan.

The company said in a statement that it

has faced pressure from one of its lenders

since new allegations of sexual assault

against founder Peter Nygard emerged

last month in a lawsuit in New York and in

a New York Times investigation. Nygard’s

biggest customer, U.S. department store

chain Dillard’s, announced in response

that it was cancelling all orders from the

Winnipeg-based apparel company and

would refuse to accept deliveries. Cana-

dian retailers Suzanne’s and Rogers Com-

munications Inc.’s TSC (formerly The

Shopping Channel) also suspended or-

ders.

On Monday morning, TSC pulled all re-

maining Nygard products from its web-

site. In a statement on Tuesday, the com-

pany said that “the serious allegations

brought against Peter Nygard contradict

our company’s values and what we stand

for.”

Nygard’s statement did not name Dil-

lard’s, but said that after the loss of a “sig-

nificant” customer, the lender “demanded

immediate payment of its outstanding

credit facility.” The lender then “refused to

wait a few extra days” while a new credit

line it had secured was finalized, “and in-

stead took aggressive steps which threat-

ened the existence of the company,” the

statement said, without specifying the

identity of the lender or the steps taken.

On Tuesday, Nygard filed a notice of in-

tention to file a proposal under the Cana-

dian Bankruptcy and Insolvency Act with

the District of Ontario division of the Of-

fice of the Superintendent of Bankruptcy

Canada.

In February, The New York Times re-

ported on sexual-assault allegations

against Mr. Nygard, and included accounts

from women who said they were prom-

ised money to make claims against Mr.

Nygard. The promises came from people

connected to U.S. hedge fund billionaire

Louis Bacon, the women told the Times.

Mr. Bacon denied those allegations.

Mr. Bacon and Mr. Nygard own neigh-

bouring properties in the Bahamas, and

have been engaged in a protracted and

public battle over property issues. In late

February, after an FBI raid on its head-

quarters in Manhattan, the company an-

nounced that Mr. Nygard had stepped

down as chief executive officer. Due to the

lawsuit and the media coverage, “damage

was certain to occur,” the company’s

statement said on Tuesday.

None of the allegations has been

proved in court.

The statement said the company is not

bankrupt. Nygard will work with a trustee

who will oversee the process and help to

develop a restructuring plan.

“A successful restructuring will ensure

the long-term viability and continuing op-

erations of the company,” the statement

said.

Nygardseekscreditorprotectionafter

sexassaultallegationsagainstfounder

Thecompanysaysithas

facedpressurefromoneof

itslendersandlargeretailers

arecancellingorders

SUSANKRASHINSKYROBERTSON

RETAILINGREPORTER

ANygardstoreinWinnipegisshownonFeb.26.U.S.departmentstorechainDillard’sand

CanadianretailersSuzanne’sandTSChavesuspendedordersfromNygardinthewakeof

sexual-assaultallegationsagainstPeterNygard.JOHN WOODS/THE CANADIAN PRESS