Quebecor World to Convert no Series 3 Preferred Shares Into Series 2 Preferred Shares
19 November 2007 - 2:36PM
Marketwired
MONTREAL, CANADA (NYSE: IQW) today announced that none of its
12,000,000 issued and outstanding Series 3 Cumulative Redeemable
First Preferred Shares (TSX: IQW.PR.D) (the "Series 3 Preferred
Shares") will be converted into Series 2 Cumulative Redeemable
First Preferred Shares (the "Series 2 Preferred Shares").
Shareholders who had elected to convert will have returned to
them, as soon as practicable after December 1, 2007, share
certificates representing the number of Series 3 Preferred Shares
surrendered for conversion. Starting December 1, 2007 and until
November 31, 2012, holders of Series 3 Preferred Shares will be
entitled to receive quarterly fixed dividends at an annual rate of
6.13% subject to being declared by the Board of Directors of
Quebecor World and as permitted by applicable law. The Series 3
Preferred Shares will remain listed on The Toronto Stock Exchange
under the symbol IQW.PR.D.
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 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 November 19, 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.
Contacts: Quebecor World Inc. Tony Ross Vice President,
Communications 514-877-5317 Quebecor World Inc. Roland Ribotti Vice
President, Investor Relations and Assistant Treasurer 514-877-5143
800-567-7070
Quebecor World (NYSE:IQW)
Historical Stock Chart
Von Aug 2024 bis Sep 2024
Quebecor World (NYSE:IQW)
Historical Stock Chart
Von Sep 2023 bis Sep 2024