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Norbord Inc.
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Toronto, Quebec, Canada, 13 October 2009 -- Norbord has announced today that its board of directors has authorized the implementation of a share consolidation on the basis of one post-consolidation common share for every 10 preconsolidation common shares, effective 16 October 2009.

 

The approximately 432 million common shares of the company currently outstanding will be reduced to approximately 43.2 million common shares, as approved by shareholders at the company’s annual and special meeting held on 29 April 2009. No fractional shares will be issued. Any fractions of a share will be rounded down to the nearest number of common shares that is a multiple of 10. The exercise or conversion price and the number of common shares issuable under any of the company’s outstanding warrants, stock options, and deferred share units will be proportionately adjusted upon consolidation.

 

The share consolidation has received conditional approval from the Toronto Stock Exchange (TSX).

The company’s common shares will continue to be traded on the TSX under the symbol "NBD" on a post-consolidation basis, under a new CUSIP number: 65548P403. Norbord’s common shares are expected to begin trading on a post-consolidation basis on the TSX when markets open on 21 October 2009.

Norbord has retained its transfer agent, CIBC Mellon Trust Company to act as exchange agent for the share consolidation. Shareholders of record as at the effective date will receive a letter of transmittal providing instructions for the exchange of their common shares as soon as practicable following the effective date. 

 

 

 

Norbord Inc. is an international producer of wood-based panels with assets of CAD 1.0 billion, employing approximately 2500 people at 15 plant locations in the United States, Europe, and Canada. Norbord is one of the world’s largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF), hardwood plywood and related value-added products. Norbord is a publicly traded company listed on the TSX under the symbols NBD and NBD.WT. 

 



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