CALPREF: BIRTH & CONVERSION CALPREF was created in CalBank's 2024 Rights Issue — 196,503,781 preference shares at GHS 0.29 each. 📅 AGM approval to convert: March 20, 2025 📅 Conversion effective: June 2, 2025 📅 Announced: June 4, 2025 📌 Basis: 1:1 — every preference share became one ordinary share ⚠️ Not a surprise — this was written into the 2024 Rights Issue Circular from day one. 💡 Preference shares carry a fixed dividend and priority in liquidation, but no voting rights. Ordinary shares carry voting rights and variable dividends, but rank behind preference shares if the company winds up. So holders traded fixed-income priority for voting power and full exposure to CalBank's performance. 📌 Bottom line: if CALPREF still shows on IC Wealth or any app, it's a dead ticker. It stopped existing June 2, 2025. 📢 Follow for more GSE corporate action breakdowns.