Montreal , Quebec, Canada, 15 April 2009 - Quebecor World Inc. (TSX: IQW) has received a written request from the Toronto Stock Exchange (TSX) that trading in all of Quebecor World’s outstanding classes and series of securities currently listed on the TSX be suspended.
In the request letter, the TSX stated its view that, following the company’s announcement on 08 April 2009, regarding the agreement in principle between Quebecor World and its key creditor constituencies on the material terms and conditions of a consolidated restructuring plan that would form the basis of a comprehensive plan of reorganization, arrangement, or compromise, it is inappropriate for Quebecor World’s securities to continue to trade on the TSX.
As the company has consistently stated, it is highly unlikely that its existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares will have any value following the implementation of any such plan of reorganization, arrangement, or compromise. Based on the foregoing, and in response to the TSX’s written request, the company has indicated to the TSX that it does not object to the TSX’s position and will comply with its request that all trading in Quebecor World’s securities on the TSX be suspended.
Consequently, effective after the close of markets on 17 April 2009, Quebecor World’s Subordinate Voting Shares (IQW), Series 3 Preferred Shares (IQW.PD) and Series 5 Preferred Shares (IQW.PC) will be suspended from trading on the TSX, and the suspension will remain in place until the effectiveness of any reorganization, arrangement, or compromise relating to Quebecor World and its subsidiaries under the ongoing insolvency proceedings.
Shareholders may contact their financial institutions, brokers, or financial advisors to obtain more details on trading alternatives including the over-the-counter market.
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 20,000 employees working in approximately 90 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru. The company's Web address is www.quebecorworld.com.