Announcements By Hollinger Inc.Business Editors TORONTO--(BUSINESS WIRE)--Jan. 19, 2004 Hollinger Inc. ("Hollinger") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :HLG HLG High Level Group (NATO) HLG Hannibal-Lagrange College (Missouri) HLG Hand Launched Glider HLG Half-Life Guard (anti-cheat for half-life based games) HLG Hawk Logistics Group .C) (TSX:HLG.PR.B) (TSX:HLG.PR.C) announced today that, after careful deliberation, Hollinger's Board of Directors elected not to declare a quarterly cash dividend on its Series III preference shares which would have been payable on February 6, 2004. The Board of Directors concluded that Hollinger could not satisfy the liquidity requirement under applicable law in respect of the payment of such dividend. Dividends not declared on the Series III preference shares in accordance with the terms thereof are added to the retraction In the law of Defamation, a formal recanting of the libelous or slanderous material. Retraction is not a defense to defamation, but under certain circumstances, it is admissible in Mitigation of Damages. Cross-references Libel and Slander. , redemption and liquidation entitlement of such shares. Hollinger further announced that Gordon W. Walker, QC has been appointed as a director of Hollinger. Mr. Walker will also serve as a member of Hollinger's Audit Committee. Mr. Walker has had a distinguished career in politics at the municipal and provincial levels. He served as city councillor in London, Ontario for five years and as a Member of the Provincial Parliament of Ontario for twelve years until 1985 during which time he was, among other things, Provincial Secretary The Provincial Secretary was a senior position in the executive councils of British North America's colonial governments, and was retained by the Canadian provincial governments for at least a century after Canadian Confederation was proclaimed in 1867. for Justice, Minister of Consumer and Commercial Relations and Minister of Industry and Trade. After leaving politics, Mr. Walker was counsel to law firms This list of the world's largest law firms by revenue is taken from The Lawyer and The American Lawyer and is ordered by 2006 revenue:[1]
Hollinger further announced that Hollinger's Board of Directors was advised by its Chairman, Lord Black, that he and Hollinger's controlling shareholder, The Ravelston Corporation Limited Ravelston Corporation Limited is a Canadian holding company that was largely controlled by Conrad Black and business partner David Radler. It held shares in Black's other holding companies, such as Hollinger International, now known as Sun-Times Media Group. ("Ravelston"), had entered into an agreement with Press Holdings International Limited ("PHIL") pursuant to which he and Ravelston have agreed to tender, or cause to be tendered, the shares of Hollinger which they own directly or indirectly into a take-over bid to be made by PHIL for all of the issued and outstanding shares of every class of Hollinger. Hollinger's principal asset is its approximately 72.6% voting and 30.3% equity interest in Hollinger International, Inc. Hollinger International is a global newspaper publisher with English-language newspapers in the United States Newspapers have declined in their influence and penetration into American households over the years. The U.S. does not have a national paper per se, although the influential dailies the New York Times and the Wall Street Journal are sold in most U.S. cities. , Great Britain, and Israel. Its assets include The Daily Telegraph, The Sunday Telegraph and The Spectator and Apollo magazines in Great Britain, the Chicago Sun-Times and a large number of community newspapers in the Chicago area, The Jerusalem Post and The International Jerusalem Post in Israel, a portfolio of new media investments and a variety of other assets other assets Assets of relatively small value. For financial reporting purposes, firms frequently combine small assets into a single category rather than listing each item separately. . |
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