Wilmington Capital Management Inc.
TSX : WCM

Wilmington Capital Management Inc.

December 21, 2006 16:31 ET

Wilmington Announces Intention to Redeem Its Subordinated Debentures Due December 31, 2050

TORONTO, ONTARIO--(CCNMatthews - Dec. 21, 2006) - Wilmington Capital Management Inc. (TSX:WCM) announced today that it intends to redeem its subordinated debentures due December 31, 2050 (the "Debentures") on January 31, 2007 for cash. The redemption price will be C$25.00 per Debenture plus accrued interest up to but not including the redemption date, of $0.1233 per Debenture, for a total Redemption Price per Debenture of C$25.1233.

During 2004, Wilmington repurchased C$49,850,550 of the Debentures pursuant to a purchase offer, representing over 98% of the total issue. The Debentures were subsequently de-listed from the Toronto Stock Exchange in September 2005. There are currently C$701,250 principal amount of the Debentures outstanding. These are redeemable at the company's option on or after December 31, 2006.

This news release contains forward-looking statements concerning the company's intention to redeem its Debentures. The company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors. The company undertakes no obligation to publicly update or revise any forward-looking statements or information, whether written or oral, that may be as a result of new information, future events or otherwise.

Contact Information

  • Wilmington Capital Management Inc.
    Brian D. Lawson
    President and Chief Executive Officer
    (416) 867-9370