Quebecor World Announces Share Conversion Rate
Montréal, Quebec, Canada, 26 February 2008 -– Quebecor World Inc. (TSX: IQW) today announced that it has determined the final conversion rate applicable to the 3,975,663 Series 5 Cumulative Redeemable First Preferred Shares (TSX: IQW.PR.C) that will be converted into Subordinate Voting Shares, effective 01 March 2008.
Taking into account all accrued and unpaid dividends on the Series 5 Preferred Shares up to and including 01 March 2008, Quebecor World has determined that, in accordance with the provisions governing the Series 5 Preferred Shares, each Series 5 Preferred Share will be converted on 01 March 2008, into 12.93125 Subordinate Voting Shares.
Registered holders of Series 5 Preferred Shares who submitted notices of conversion on or before 27 December 2007, will receive in the coming days from Quebecor World’s transfer agent and registrar, Computershare Investor Services Inc., certificates representing their Subordinate Voting Shares resulting from the conversion. Approximately 51.4 million new Subordinate Voting Shares will thus be issued by Quebecor World to holders of Series 5 Preferred Shares on 01 March 2008.
Quebecor World will apply to list the 51.4 million Subordinate Voting Shares on The Toronto Stock Exchange (TSX), although there can be no assurance that the TSX will accept the listing of such shares.
Quebecor World Inc. (TSX: 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, and 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, and Switzerland.
Web address: www.quebecorworld.com