IQW.PR.C, IQW.PR.D: Suspended from Trading

Quebecor World has announced:

that it 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 April 8, 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 Friday, April 17, 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, which 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.

The bare fact of suspension has been rather tersely confirmed by the TSX.

Both issues were last mentioned on PrefBlog in response to inquiries about their possible value subsequent to reorganization.

HIMIPref™ no longer tracks IQW.PR.C or IQW.PR.D, as the low price was causing “sanity checks” in the programming to indicate errors.

One Response to “IQW.PR.C, IQW.PR.D: Suspended from Trading”

  1. […] IQW.PR.C & IQW.PR.D were last mentioned on PrefBlog when they were suspended from trading on the TSX. […]

Leave a Reply

You must be logged in to post a comment.