Quebecor World Receives Conversion Notices in Respect of 3,975,663 Series 5 Preferred Shares
28 Diciembre 2007 - 8:07AM
Marketwired
MONTREAL, CANADA (NYSE: IQW) today announced that, on or prior
to December 27, 2007, it received notices in respect of 3,975,663
of its 7,000,000 issued and outstanding Series 5 Cumulative
Redeemable First Preferred Shares (TSX: IQW.PR.C) (the "Series 5
Preferred Shares") requesting conversion into the Company's
Subordinate Voting Shares.
In accordance with the provisions governing the Series 5
Preferred Shares, registered holders of such shares are entitled to
convert all or any number of their Series 5 Preferred Shares into a
number of Subordinate Voting Shares effective as of March 1, 2008
(the "First Conversion Date"), provided such holders gave notice of
their intention to convert at least 65 days prior to the First
Conversion Date. The next conversion date on which registered
holders of the Series 5 Preferred Shares will be entitled to
convert all or any number of such shares into Subordinate Voting
Shares is June 1, 2008, and notices of conversion in respect
thereof must be deposited with the Company's transfer agent,
Computershare Investor Services Inc., on or before March 27, 2008.
The Series 5 Preferred Shares are convertible into that number of
the Company's Subordinate Voting Shares determined by dividing
Cdn$25.00 together with all accrued and unpaid dividends on such
shares up to February 29, 2008 by the greater of (i) Cdn$2.00 and
(ii) 95% of the weighted average trading price of the Series 5
Preferred Shares on the Toronto Stock Exchange during the period of
twenty trading days ending on February 26, 2008. Notwithstanding
the notices of conversion received in respect of the Series 5
Preferred Shares, the Company retains the right under the
provisions governing the Series 5 Preferred Shares to redeem all or
any number of such Series 5 Preferred Shares in respect of which a
notice of conversion was received. In the event Quebecor World were
to decide to avail itself of its right to redeem all or any number
of such Series 5 Preferred Shares in respect of which a notice of
conversion was received, it would be required to provide notice to
the holders of Series 5 Preferred Shares that submitted a notice of
conversion by January 21, 2008.
Forward looking statements
This press release may include "forward-looking statements" that
involve risks and uncertainties. All statements other than
statements of historical facts included in this press release,
including statements regarding the prospects of the industry and
prospects, plans, financial position and business strategy of
Quebecor World Inc. (the "Company"), may constitute forward-looking
statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995 and Canadian securities legislation
and regulations. Forward-looking statements generally can be
identified by the use of forward-looking terminology such as "may,"
"will," "expect," "intend," "estimate," "anticipate," "plan,"
"foresee," "believe" or "continue" or the negatives of these terms
or variations of them or similar terminology. Although the Company
believes that the expectations reflected in these forward-looking
statements are reasonable, it can give no assurance that these
expectations will prove to have been correct. Forward-looking
statements do not take into account the effect that transactions or
non-recurring or other special items announced or occurring after
the statements are made have on the Company's business. For
example, they do not include the effect of dispositions,
acquisitions, other business transactions, asset writedowns or
other charges announced or occurring after forward-looking
statements are made.
Investors and others are cautioned that undue reliance should
not be placed on any forward-looking statements. For more
information on the risks, uncertainties and assumptions that could
cause the Company's actual results to differ from current
expectations, please refer to the Company's public filings
available at www.sedar.com, www.sec.gov and www.quebecorworld.com.
In particular, further details and descriptions of these and other
factors are disclosed in the "Risks and Uncertainties related to
the Company's business" section of the Company's Management's
Discussion and Analysis for the year ended December 31, 2006, and
the "Risk Factors" section of the Company's Annual Information Form
for the year ended December 31, 2006.
The forward-looking statements in this press release reflect the
Company's expectations as of December 28, 2007 and are subject to
change after this date. The Company expressly disclaims any
obligation or intention to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, unless required by the applicable securities
laws.
About Quebecor World
Quebecor World Inc. (TSX: IQW, NYSE: IQW) is a world leader in
providing high-value, complete marketing and advertising solutions
to leading retailers, catalogers, branded-goods companies and other
businesses with marketing and advertising activities, as well as
complete, full-service print solutions for publishers. The Company
is a market leader in most of its major product categories, which
include advertising inserts and circulars, catalogs, direct mail
products, magazines, books, directories, digital premedia,
logistics, mail list technologies and other value-added services.
Quebecor World has approximately 28,000 employees working in more
than 115 printing and related facilities in the United States,
Canada, Argentina, Austria, Belgium, Brazil, Chile, Colombia,
Finland, France, India, Mexico, Peru, Spain, Sweden, Switzerland
and the United Kingdom.
Web address: www.quebecorworld.com
Contacts: Quebecor World Inc. Tony Ross Vice President,
Communications 514-877-5317 800-567-7070 Quebecor World Inc. Roland
Ribotti Vice President, Investor Relations and Assistant Treasurer
514-877-5143 800-567-7070
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