Closing of Previously Announced Private Placement of Debentures Exchangeable for Shares of Royal Group Technologies Limited.Business Editors WOODBRIDGE, Ontario--(BUSINESS WIRE)--April 18, 2002 Royal Group Technologies Limited (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :RYG RYG Red Yellow Green (past performance information) ; NYSE NYSE See: New York Stock Exchange :RYG)--Vic De Zen announced today the closing of a previously-announced (April 5, 2002) private placement of exchangeable debentures by a holding company controlled by him. The debentures are exchangeable for 3,600,000 subordinate voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. of Royal Group Technologies Limited. Mr. De Zen currently has no intention of disposing of additional securities of Royal Group. Mr. De Zen may acquire additional subordinate voting shares from time to time. 3901602 Canada Inc. (the issuer of the debentures) has pledged 3,600,000 multiple voting Noun 1. multiple voting - the act of voting in more than one place by the same person at the same election (illegal in U.S.) balloting, vote, voting, ballot - a choice that is made by counting the number of people in favor of each alternative; "there were only 17 shares of Royal Group to secure its obligations upon any exercise of the debentureholders' exchange right. The issuer of the debentures acquired the 3,600,000 multiple voting shares from two companies controlled by Mr. De Zen. The 3,600,000 multiple voting shares represent 22.59% of the outstanding multiple voting shares of Royal Group. The multiple voting shares are convertible into subordinate voting shares of Royal Group on a one-to-one basis prior to being transferred to any person who is not an affiliate of Mr. De Zen. As previously announced, Mr. De Zen caused the issuer to effect this transaction for financial and estate planning Estate Planning The overall planning of a person's wealth, including the preparation of a will and the planning of taxes after the individual's death. Notes: Contrary to popular belief, estate planning involves much more than preparing a will, and it is not only for the purposes. Mr. De Zen owns and controls 15,935,444 multiple voting shares, which represent 100% of the outstanding multiple voting shares of Royal Group Technologies Limited. A copy of the corresponding report filed in respect of this news release with certain provincial securities commissions may be obtained from Mark Badger, who can be contacted at (905) 264-0701. |
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