QUEBECOR ANNOUNCES FILING OF A PRELIMINARY SHORT FORM PROSPECTUS, ISSUE OF 3,000,000 CLASS B SUBORDINATE VOTING SHARES
QUEBECOR ANNOUNCES FILING OF A PRELIMINARY SHORT FORM PROSPECTUS,
ISSUE OF 3,000,000 CLASS B SUBORDINATE VOTING SHARES
MONTREAL, Nov. 4 /PRNewswire/ -- Quebecor Inc. (AMEX: PQB) announced that it has filed its preliminary short form prospectus dated Nov. 4, 1991, with the Commission des valeurs mobilires du Quebec and similar regulatory authorities in Canada, in respect of an issue of 3,000,000 Class B subordinate voting shares at a price of $20.30 per share.
The company has entered into an underwriting agreement with ScotiaMcLeod Inc., Nesbitt Thomson Limited, RBC Dominion Securities Ltd., Levesque Beaubien Geoffrion Inc. and Sanwa McCarthy Securities Limited, which will act as underwriters in connection with this issue.
The company has applied for an advance income tax ruling in order to seek confirmation that the Class B subordinate voting share will qualify for inclusion in a Quebec stock savings plan under the provisions of the Taxation Act (Quebec) and will enable the holders thereof to a deduction equal to 50 percent of their acquisition cost if certain conditions are met.
Quebecor Inc., a continent wide communications enterprise, is active in the publishing sector with 4 dailies, 50 weeklies, 7 monthlies, 11 magazines and numerous specials as well as books. It is also involved in publications and records distribution, retail and manufacturing. With over 57 printing and specialized plants across Canada and the United States, the company is the second largest commercial printer in North America. Through its subsidiary Mircor Inc., its activities also comprise forest products.
/CONTACT: Francois R. Roy, vice president, finance and treasurer, 514-877-9777/ CO: Quebecor Inc. ST: Quebec IN: PUB SU: OFR KD -- NY087 -- 0956 11/04/91 17:38 EST