Erik Peladeau and Pierre Karl Peladeau

August 06, 2009 19:54 ET

Announcement Concerning Control of Quebecor Inc.

MONTREAL, QUEBEC--(Marketwire - Aug. 6, 2009) - Messrs. Erik Peladeau and Pierre Karl Peladeau announced today that on August 6, 2009, in accordance with the last will and testament of the Late Pierre Peladeau, Mr. Pierre Karl Peladeau acquired from Mr. Erik Peladeau, for a nominal amount, the latter's interest in the trust through which the shares giving control over Les Placements Peladeau Inc. ("PPI") were held. PPI is the holding company which controls Quebecor Inc. ("QI"). Such shares of PPI are now owned by Mr. Pierre Karl Peladeau.

PPI continues to hold 17,144,264 Class A Shares of QI (carrying 10 votes per share) and 19,800 Class B Shares of QI (carrying 1 vote per share). Holding Peladeau inc. ("HPI"), a wholly owned subsidiary of PPI, continues to hold 321,000 Class A Shares of QI. Mr. Pierre Karl Peladeau alone will thus control all of the Class A and Class B Shares of QI held by PPI and HPI. In addition, in his personal capacity, Mr. Pierre Karl Peladeau owns 3,200 Class A Shares and 50,000 Class B Shares of QI and 1,397,639 options to purchase Class B Shares of QI which may be exercised within the next 60 days. If Mr. Pierre Karl Peladeau were to acquire the Class B Shares of QI that he is entitled to acquire pursuant to the options he holds that may be exercised within the next 60 days, he would own or exercise control over 17,468,464 Class A Shares of QI and 1,467,439 Class B Shares of QI, representing about 86.21% of all the Class A Shares of QI and 3.23% of all the Class B Shares of QI.

The purpose of this transaction is to give effect to the wishes of Messrs. Erik Peladeau and Pierre Karl Peladeau and to facilitate their estate planning. Mr. Pierre Karl Peladeau has no intention of further increasing his ownership of or control over the securities of QI. Mr. Pierre Karl Peladeau is availing himself of the private agreement exemption pursuant to section 4.2 of Multilateral Instrument 62-104 Take-Over Bids and Issuer Bids.

QI's Board of Directors, management team and policies are not affected by this transaction.

Contact Information

  • Jules Charette
    514-847-4450