Quebecor World Inc.
TSX : IQW

Quebecor World Inc.

June 18, 2009 00:30 ET

Quebecor World Announces Extension of Balloting Deadline and Postponement of Creditors' Meeting for its U.S. and Canadian Plans of Reorganization

MONTREAL, CANADA--(Marketwire - June 18, 2009) - Quebecor World Inc. and its affiliated debtors and debtors-in-possession announce that, as permitted by the Order of the US Bankruptcy Court dated May 18, 2009, approving the disclosure statement and balloting procedures incident to the Third Amended Joint Plan of Reorganization of the US Debtors (the "US Plan"), the balloting deadline to receive votes on the US Plan has been extended from 5:00 p.m. (Eastern Time) on Thursday, June 18, 2009 to 5:00 p.m. (Eastern Time) on Monday, June 22, 2009. Consistent therewith, Quebecor World also announces that pursuant to its request, the Chair appointed by the Monitor in the Canadian creditor protection proceedings of Quebecor World has decided, in accordance with the provisions of the Creditors' Meeting Order rendered by the Quebec Superior Court on May 14, 2009, to postpone the date of the meeting of affected creditors under the Canadian proceedings from 10:00 a.m. (Eastern Time) on Thursday, June 18, 2009 to Monday, June 22, 2009. The time and place of the meeting will be posted on the Monitor's website at www.ey.com/ca/quebecorworld no later than Friday, June 19, 2009, at 10:00 a.m. Creditors who have already voted on the US Plan and/or provided the Monitor with a proxy and voting form regarding the Canadian Plan do not have to submit new ballots or new forms, as applicable, unless their voting intention has changed or, in respect of the Canadian Plan, the designated proxy needs to be replaced.

The joint hearing on the confirmation and approval of both the US Plan and the Canadian Plan remains scheduled for June 30, 2009, as Quebecor World continues on the timetable contemplated under its proposed reorganization plans so as to successfully emerge from both the US and Canadian Insolvency Proceedings by mid-July 2009. In that connection, the exit financing in support of the Company's emergence is well advanced, and anticipated to be in place to fund the Company's exit from creditor protection.

Details of the postponed balloting deadline and the rescheduled Canadian creditors' meeting will be made available on the following websites: http://www.donlinrecano.com/cases/caseinfo.aspx?cl=qw, www.ey.com/ca/quebecorworld and hyperlinked from http://www.quebecorworld.com/restructuring.aspx.

Forward looking statements

To the extent any statements made in this press release contain information that is not historical, these statements are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are forward-looking information within the meaning of the "safe harbor" provisions of applicable Canadian securities legislation (collectively "forward-looking statements"). These forward-looking statements relate to, among other things, prospects of Quebecor World Inc.'s (the "Company") industry and its objectives, goals, strategies, beliefs, intentions, plans, estimates, projections and outlook, and can generally be identified by the use of words such as "may," "will," "expect," "intend," "estimate," "anticipate," "plan," "foresee," "believe" or "continue" or the negatives of these terms, variations on them and other similar expressions. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements. The Company has based these forward-looking statements on its current expectations about future events. Forward-looking statements do not take into account the effect of transactions or other items announced or occurring after the statements are made. For example, they do not include the effect of dispositions, acquisitions, other business transactions, asset write-downs or other charges announced or occurring after the forward-looking statements are made.

Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct, and forward-looking statements inherently involve risks and uncertainties, and undue reliance should not be placed on such statements. Certain material factors or assumptions are applied in making forward-looking statements, including, but not limited to, factors and assumptions relating to the Company's ability to emerge from the insolvency proceedings, and actual results may differ materially from those expressed or implied in such forward-looking statements.

Important factors and assumptions as well as the Company's ability to anticipate and manage the risks associated therewith that could cause actual results to differ materially from these expectations are detailed from time to time in the Company's filings with the U. S. Securities and Exchange Commission ("SEC") and the securities regulatory authorities in Canada, available at www.sec.gov and www.sedar.com (copies of which are available on www.quebecorworld.com). The Company cautions that any such list of important factors that could affect future results is not exhaustive. Investors and others should carefully consider the factors detailed from time to time in the Company's filings with the SEC and the securities regulatory authorities in Canada and other uncertainties and potential events when relying on its forward-looking statements to make decisions with respect to the Company.

The Company is currently subject to court protection under the Companies' Creditors Arrangement Act in Canada ("CCAA"), and various U.S. subsidiaries have filed petitions under Chapter 11 of the U.S. Bankruptcy Code ("Chapter 11"). In light of the CCAA and Chapter 11 Proceedings, the Company's existing Multiple Voting Shares, Redeemable First Preferred Shares and Subordinate Voting Shares are not anticipated to have any value following the implementation of any plan of reorganization.

Unless mentioned otherwise, the forward-looking statements in this press release reflect the Company's expectations as of June 1, 2009, being the date at which they have been approved, and are subject to change after this date. The Company expressly disclaims any obligation or intention to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable securities laws.

About Quebecor World

Quebecor World Inc. is a world leader in providing high-value, complete marketing and advertising solutions to leading retailers, catalogers, branded-goods companies and other businesses with marketing and advertising activities, as well as complete, full-service print solutions for publishers. The Company is a market leader in most of its major product categories, which include advertising inserts and circulars, catalogs, direct mail products, magazines, books, directories, digital premedia, logistics, mail list technologies and other value-added services. Quebecor World has approximately 20,000 employees working in approximately 90 printing and related facilities in the United States, Canada, Argentina, Brazil, Chile, Colombia, Mexico, and Peru.

Web address: www.quebecorworld.com

Contact Information

  • Quebecor World Inc.
    Tony Ross
    Vice President, Communications
    514-877-5317
    800-567-7070
    or
    Quebecor World Inc.
    Roland Ribotti
    Vice President, Corporate Finance and Treasurer
    514-877-5143
    800-567-7070