We may not redeem the Series A Preferred Shares prior to March 15, 2012. On or after March 15, 2012, we may, at our option, redeem the Series A Preferred Shares, in whole or, from time to time, in part, for $25,000 per Series A Preferred Share (equivalent to $25.00 per depositary share), payable in cash, plus any accrued and unpaid dividends through the date of redemption for the then-current quarterly dividend period. However, at any time following a Ùchange of control eventˆ (as described above), we will have the option to redeem the Series A Preferred Shares, in whole but not in part, within 90 days after the first date on which the Ùchange of control eventˆ has occurred for cash at $25.00 per share, plus accrued and unpaid dividends, if any, to the redemption date.
The Series A Preferred Shares have no stated maturity, are not subject to any sinking fund provisions, are not convertible into any other securities and will remain outstanding indefinitely unless we redeem them.
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M/I Homes is engaged in the construction and sale of single-family residential homes. Co. designs, sells and builds single-family homes on developed lots, which it develops or purchases ready for home construction. Co. also purchases undeveloped land to develop into developed lots for future construction of single-family homes and, on a limited basis, for sale to others. Co.'s operations include: homebuilding and financial services. Co.'s homebuilding operations have the following segments: the Northern and Southern regions. Co.'s financial services operations support its homebuilding operations by providing mortgage loans and title services to the customers of its homebuilding operations. Preferred: MHO.PRA Open the MHO Information Page » |
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