Quebecor World to Convert no Series 3 Preferred Shares Into Series 2 Preferred Shares
Press release from the issuing company
MONTREAL, CANADA - Nov. 19, 2007 - Quebecor World Inc. today announced that none of its 12,000,000 issued and outstanding Series 3 Cumulative Redeemable First Preferred Shares (the "Series 3 Preferred Shares") will be converted into Series 2 Cumulative Redeemable First Preferred Shares (the "Series 2 Preferred Shares").
Shareholders who had elected to convert will have returned to them, as soon as practicable after December 1, 2007, share certificates representing the number of Series 3 Preferred Shares surrendered for conversion. Starting December 1, 2007 and until November 31, 2012, holders of Series 3 Preferred Shares will be entitled to receive quarterly fixed dividends at an annual rate of 6.13% subject to being declared by the Board of Directors of Quebecor World and as permitted by applicable law. The Series 3 Preferred Shares will remain listed on The Toronto Stock Exchange under the symbol IQW.PR.D.
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