TORONTO, July 22, 2010 /CNW/ - Norbord Inc. (TSX: NBD, NBD.WT) today announced the extension of its small shareholder selling program, which enables registered or beneficial holders of 99 or fewer Common Shares of the Corporation to sell their Common Shares without incurring commission charges.
The voluntary program began on April 29, 2010 and will expire on July 30, 2010. Norbord has received TSX approval for the extension of the program for an additional 30 days. The program will now expire on August 30, 2010, unless extended.
Shareholders wishing to participate in the program must sell all of their Common Shares. The Corporation shall arrange for orders received pursuant to the program to be sent to a participating organization of The Toronto Stock Exchange (the "Broker") for execution immediately after clearance of such orders for trading. Orders received and cleared for execution shall be placed with the Broker no later than 12:00 p.m. on the next business day for execution by the TSX. Orders may be aggregated, but not netted, by the Corporation or the Broker. The price received by shareholders for their Common Shares will be the average price received on all orders placed with the Broker for execution on a given day, regardless of when any individual orders are executed on that day.
The Board of Directors of the Corporation makes no recommendation as to whether any particular shareholder should sell pursuant to the program. The program is entirely voluntary and shareholders are advised to contact their broker or other financial adviser as to the suitability of participating.
Additional information concerning this program can be obtained by contacting the Company's transfer agent - CIBC Mellon Trust Company by telephone at 416.643.5500 or toll-free at 1.800.387.0825, or through e-mail to [email protected] or Norbord at 416.643.8830 or 1.888.667.2673.
Norbord Inc. is an international producer of wood-based panels with assets of $1.0 billion, employing approximately 1,950 people at 14 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) and related value-added products. Norbord is a publicly traded company listed on the Toronto Stock Exchange under the symbols NBD and NBD.WT.
For further information: For further information: Elaine Toomey, Assistant Corporate Secretary, (416) 643-8830, [email protected]