Quebecor World gets requests to convert 340,200 preferred shares

By Caroline Salls

Pittsburgh, March 30 - Quebecor World Inc. has received requests to convert 340,200 of its remaining 1.44 million outstanding series 5 cumulative redeemable first preferred shares into subordinate voting shares, according to a company news release.

The company said the registered holders of the series 5 preferred shares are entitled to convert any or all of their shares on June 1 if they give notice of their intent to convert the shares at least 65 days before the conversion date.

According to the release, the series 5 preferred shares are convertible into the number of subordinate voting shares calculated by dividing C$25, together with all unpaid dividends on the shares up to May 31, by the greater of C$2 and 95% of the weighted average trading price of the series 5 preferred shares on the Toronto Stock Exchange during the period of 20 trading days ending on May 28.

The next conversion date will be Sept. 1. Notices for that conversion must be submitted by June 26.

Quebecor World, a Montreal-based printing and marketing company, filed for Chapter 11 bankruptcy on Jan. 21, 2008 in the U.S. Bankruptcy Court for the Southern District of New York and filed for protection under the Companies' Creditors Arrangement Act in Canada. Its Chapter 11 case number is 08-10152.

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