Propanc Biopharma Inc (PPCB)

[Jackcincy9745]

8k Released 4:20p on 3/17/2023. Definition supplied by Chat AI

A Certificate of Retirement of preferred stock is a document issued by a company to indicate that a certain series or class of preferred stock has been retired or redeemed. Preferred stock is a type of stock that typically pays a fixed dividend to shareholders and has priority over common stock in the event of the company's liquidation or bankruptcy.

When a company decides to retire or redeem a particular series or class of preferred stock, it will typically issue a Certificate of Retirement to the holders of the stock to inform them of the action. The certificate will typically include information such as the name of the company, the series or class of preferred stock that has been retired, the date of the retirement, and the amount of the dividend or redemption payment to be made to the shareholders.

Retiring or redeeming preferred stock can have several implications for both the company and the shareholders. For example, retiring preferred stock can reduce the company's debt and interest payments, while redeeming preferred stock can provide shareholders with cash and potentially increase the value of remaining shares.





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