CINAR: The Trustee Responds Positively to the Request of the Quebec Securities Commission.
MONTREAL--(BUSINESS WIRE)--June 12, 2002
In a press release issued this morning, the Quebec Securities Commission rejected allegations with respect to its lack of action in the CINAR matter; moreover, the Commission requested the Trustee "to confirm that CINAR Corporation still meets the requirements of its articles with respect to Multiple Voting Shares."
Mr. Robert Despres, as Trustee whose appointment was approved by the Quebec Securities Commission last April 23rd, confirms that CINAR meets the requirements contained in its Articles with respect to multiple voting shares and the maintenance of their multiple voting rights.
Accordingly, as it was established and confirmed during the Annual Meeting of CINAR on April 29, 2002, the procedure leading to the conversion of the Variable Multiple Voting Shares into Limited Voting Shares has not been triggered and there is no basis to trigger it now.
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|Date:||Jun 12, 2002|
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