REDUCTION

How does the reduction work?

If the total number of shares requested for the 2024 PEG subscription process is greater than the number of available shares, requests will be reduced, and you may not be able to receive the amount that you had requested.

Reduction of requests for subscriptions to shares will proceed as follows:

1) The total number of shares offered will be divided by the total number of subscribers to determine the “non-reducible average subscription”.

2) The part of a request for subscription to shares that is less than or equal to the “non-reducible average subscription” will be honoured in full.

3) The part of a request for subscription to shares that is greater than the “non-reducible average subscription” will be reduced by a single coefficient in such a manner that the total of all requests for subscriptions to shares does not exceed the total number of shares offered.

What happens if my subscription request is reduced and I have chosen to pay by check?

A check for payment should not be submitted for payment until final subscription is known.  The lockbox will only be open between the dates of April 22, 2024 and May 24, 2024. Checks received before or after these dates will be returned to sender and you will be converted to payroll deductions. 

What happens if my subscription request is reduced and I have chosen to pay by salary advance?

Only the reduced amount of the payment will be deducted from your paycheck on a post-tax basis over seven months, from May 2024 through November 2024.

In case of reduction, how do I know the final amount of my subscription?

The reduced amount after calculation is available on the subscription website and the subscription summary will be downloadable.