TORONTO, Sept. 18 /CNW/ - The Woodbridge Company Limited, the controlling
shareholder of Thomson Reuters (NYSE: TRI; TSX: TRI; LSE: TRIL; NASDAQ: TRIN),
today announced that it has made a Canadian regulatory filing that would
permit it to undertake transactions providing for sales of up to 10 million
Thomson Reuters Corporation common shares (representing approximately 2% of
its holdings of Thomson Reuters Corporation common shares) and concurrent
purchases of Thomson Reuters PLC ordinary shares with the aggregate sale
proceeds. The filing does not commit Woodbridge to undertake any of these
Woodbridge is considering these transactions in order to facilitate
trading of Thomson Reuters Corporation common shares and Thomson Reuters PLC
ordinary shares, which has been impacted by arbitrage activity associated with
the acquisition of Reuters Group PLC in April 2008.
Sales of Thomson Reuters Corporation common shares, if any, would be
effected through the facilities of the Toronto Stock Exchange during the 30
day period commencing seven days after today's date. Purchases of Thomson
Reuters PLC ordinary shares would be effected concurrently through the
facilities of the London Stock Exchange.
One ordinary share of Thomson Reuters PLC is equivalent to one common
share of Thomson Reuters Corporation under Thomson Reuters dual listed company
structure. As of September 17, 2008, Woodbridge and other companies affiliated
with it beneficially owned an aggregate of 453,127,488 Thomson Reuters
Corporation common shares and 50,000 Thomson Reuters PLC American Depositary
Shares (each representing six Thomson Reuters PLC ordinary shares) and had a
voting interest in Thomson Reuters of approximately 55%. Given current market
prices, sales of Thomson Reuters Corporation common shares and purchases of
Thomson Reuters PLC ordinary shares would result in a slight increase in
Woodbridge's voting interest in Thomson Reuters.
This news release does not constitute an offer for sale of any securities
or an offer or an invitation to purchase any securities.
This news release includes forward-looking statements about Woodbridge's
future intentions with respect to possible sales of Thomson Reuters
Corporation common shares and purchases of Thomson Reuters PLC ordinary
shares. These statements are not historical facts and there can be no
assurance as to whether or when any transactions will occur. Woodbridge
disclaims any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise, other than as required by applicable law, rule or regulation.
For further information:
For further information: Scott MacNicol, TD Securities Inc., Tel: (416)
982-2674; Andrew Seaton, Citi, Tel: +44 (0)20 7986 0000