Quebecor World shares to be suspended from TSX

Wed Apr 15, 2009 11:31pm BST
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TORONTO, April 15 (Reuters) - Insolvent commercial printer Quebecor World Inc (IQW.TO: Quote, Profile, Research) said on Wednesday its shares will be suspended from the Toronto Stock Exchange as of Friday.

Quebecor World, which filed for court protection from creditors in January 2008, said earlier this month that, as a result of the bankruptcy protection process, it was "highly unlikely" its existing multiple voting shares, redeemable first preferred shares and subordinate voting shares would have any value following the reorganization.

The TSX stated in a written request that, in light of the restructuring plans, it would be inappropriate for Quebecor World's securities to continue to trade, the company said.

The shares will remain suspended until any reorganization, arrangement or compromise is finalized under the insolvency proceedings, the company said.

Its common shares were unchanged at 9.5 Canadian cents on Wednesday.

($1=$1.20 Canadian) (Reporting by Rob Wilson; Editing by Jeffrey Jones)

 
 
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