Tabling of 2014-2015 Québec budget
CRCD applauds authorization from Québec government to issue $150 million in shares in 2014
Québec, February 21, 2014 – “I applaud the Québec government’s decision to authorize Capital régional et coopératif Desjardins(CRCD) to issue $150 million in shares in 2014 despite the reach of the capitalization cap in its constituent act. This will mean even more support for the entrepreneurs who energize regional development throughout Québec,” said Marie-Claude Boisvert, COO of Desjardins Business Capital régional et coopératif, in reaction to Québec Minister of Finance and the Economy Nicolas Marceau’s announcement regarding CRCD yesterday.
“The authorization for CRCD to issue $150 million in shares in 2014 will help us continue doing what we do best: value and nurture promising Québec entrepreneurs. I’d like to thank the Minister of Finance and the Economy for his trust in CRCD. Building on our presence throughout the province, we will continue supporting top Québec businesses looking to expand while keeping ownership here at home,” added Ms. Boisvert.
In her view, the government announcement allows investors to continuing injecting patient capital into entrepreneurial development.
The date and terms of the sale of CRCD shares will be made public on March 28, 2014, at the Annual General Meeting at the Québec City Convention Centre, starting at 10:30 a.m. Eligible taxpayers will enjoy a 45% Québec tax credit on the 2014 issuance.
About Capital régional et coopératif Desjardins
With over 100,000 shareholders and $1,471 million in net assets, Capital régional et coopératif Desjardins (CRCD) is a public company managed by Desjardins Business Capital régional et coopératif. CRCD contributes to Québec economic development through several levers developed with its manager, with CRCD as the driving force. These levers form CRCD’s entrepreneurial ecosystem designed to value and nurture the best of Québec entrepreneurship. Directly or indirectly through its ecosystem, CRCD supports the growth of over 360 businesses, cooperatives and funds in various industries spanning all Québec regions, helping to create and retain 47,000 jobs. (www.capitalregional.com)
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