COGECO Inc.
TSX : CGO

COGECO Inc.
Cogeco Câble inc.
TSX : CCA

April 23, 2007 14:58 ET

Minimum Share Ownership Levels for Executives of COGECO and Cogeco Cable

MONTREAL, QUEBEC--(CCNMatthews - April 23, 2007) - COGECO Inc. (TSX:CGO) and Cogeco Cable Inc. (TSX:CCA) announced today that the minimum share ownership levels for its senior executive officers have been enhanced. In order to reflect best corporate governance practices in Canada, Mr. Louis Audet, the President and Chief Executive Officer, is now expected to achieve a holding of shares equal to at least five (formerly three) times his base annual salary. He volunteered this higher level and he will have until October, 2011 to meet it. The minimum share ownership level to be held by Mr. Audet, who is the President and Chief Officer of both COGECO and Cogeco Cable, may be comprised of multiple and subordinate voting shares of COGECO and/or Cogeco Cable and he is encouraged to own shares of both corporate entities.

A Vice President who reports to the President and Chief Executive Officer is expected to achieve within a similar five-year time frame a holding of shares equal to at least 80% of his or her base annual salary, and is also encouraged to achieve 100% of his or her base annual salary.

These requirements are intended to encourage senior executives of COGECO and Cogeco Cable as applicable, to increase their ownership stake in the corporations they manage so as to further align the interests of senior management with those of shareholders at large.

About COGECO

COGECO is a diversified communications company. Through its Cogeco Cable subsidiary, COGECO provides about 1,713,000 revenue-generating units (RGUs) to approximately 1,448,000 homes passed in its Canadian service territory and about 671,000 RGUs to approximately 835,000 homes passed in its Portuguese services territory. Through its two-way broadband cable networks, Cogeco Cable provides its residential and commercial customers with analog and Digital Television and services, High Speed Internet access as well as Telephony services.

Through its Cogeco Radio-Television subsidiary, COGECO holds a 60% interest and operates the TQS network, six TQS television stations, and three French CBC-affiliated television stations in partnership with CTV Television. Cogeco Radio-Television also wholly owns and operates the RYTHME FM radio stations in Montreal, Quebec City, Trois Rivieres and Sherbrooke as well as 93(3) station in Quebec City. COGECO's subordinate voting shares are listed on the Toronto Stock Exchange (CGO). The subordinate voting shares of Cogeco Cable are also listed on the Toronto Stock Exchange (CCA).

Contact Information

  • Source:
    COGECO Inc./Cogeco Cable Inc.
    Pierre Gagne
    Vice President, Finance and Chief Financial Officer
    514-874-2600
    or
    Information:
    Media
    Marie Carrier
    Director, Corporate Communications
    514-874-2600