MONTREAL, Nov. 8, 2017 /CNW Telbec/ - The Board of Directors of Quebecor Inc. (the « Corporation ») approved a two-for-one split of its outstanding Class A Multiple Voting Shares (the « Class A Shares ») and Class B Subordinate Voting Shares (the « Class B Shares »). The Corporation confirms that it has received the regulatory approval from the Toronto Stock Exchange (« TSX ») with respect to the stock split.
Accordingly, holders of Class A Shares and Class B Shares of the Corporation will receive one additional share for each share owned on the record date of November 15, 2017. The payment date will be Thursday, November 16, 2017, the date from which the Corporation's transfer agent AST Trust Company (Canada) (« AST ») will send promptly to registered shareholders residing in Canada a statement of Direct Registration System indicating the number of additional Class A Shares or Class B Shares, as the case may be, received as a result of the stock split. The registered shareholders residing outside Canada will receive a physical share certificate representing one additional share for each share held as of such record date. In addition, AST will electronically issue the appropriate number of Class A Shares and Class B Shares to CDS & Co for distribution to the non-registered shareholders.
The TSX has determined to implement the « due bill » trading procedure in connection with the split of the Class A Shares and Class B Shares. A due bill is an entitlement attached to listed securities undergoing a material corporate event, such as a stock split. In this case, anyone purchasing a Class A Share or a Class B Share of the Corporation during the period commencing one trading day before the record date, being Tuesday, November 14, 2017, and ending on the payment date, being Thursday, November 16, 2017 inclusively (the « due bill period »), will receive the entitlement attached to such securities.
The Class A Shares and the Class B Shares will commence trading on a « post-split » basis on Friday, November 17, 2017, as of which date purchases of the Corporation's Class A Shares and Class B Shares will no longer have an attaching entitlement. The due bill redemption date is estimated to be Monday, November 20, 2017.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec. It holds an 81.53% interest in Quebecor Media, which employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations working in the vital fields of culture, health, education, the environment and entrepreneurship.
For further information: Hugo Delaney, Vice president, Public Affairs and communications, Quebecor, 514-380-1808 | [email protected]