Viterra Inc.

Viterra Inc.

December 21, 2010 15:10 ET

Viterra Inc.: Deferral of Conversions Between Australian and Canadian Holders

CALGARY, ALBERTA--(Marketwire - Dec. 21, 2010) - Viterra Inc. (TSX:VT) (ASX:VTA) has previously announced that January 20, 2011 is the record date for the purpose of determining the dividend entitlements for a dividend to be paid on February 10, 2011. The record and payment dates are applicable to holders of both Viterra's common stock, which trade on the Toronto Stock Exchange, and the CHESS Depository Interests, which trade on the Australian Securities Exchange. Due to the differing settlement and transfer procedures operating in the two securities markets and the timing and application of the cum dividend / ex-dividend periods prior to the above mentioned record date, there is the potential, with respect to the operation of conversion between the two securities holders , for inequalities to exist as to the standing, cum dividend or ex-dividend, of the respective security holders. 

In order to prevent such a circumstance from arising and to keep both holders and the respective shareholders on an equal footing, Viterra has sought and been granted a waiver of the ASX Settlement & Operating Rules. This will allow Viterra to defer processing of conversions between the two holders lodged in the period from and including January 14, 2011, up to and including January 20, 2011. 

Forward-Looking Information

This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such statements. Important factors that could affect these statements include, without limitation, weather conditions; producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; currency risk; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.

About Viterra

Viterra Inc. provides premium quality ingredients to leading global food manufacturers. Headquartered in Canada, the global agribusiness has extensive operations across Canada, the United States, Australia, and New Zealand, with Adelaide, Australia as the base for Viterra's Southeast Asian operations. Our growing international presence also extends to offices in Japan, Singapore, China, Switzerland, Italy, Ukraine and Germany. Driven by an entrepreneurial spirit, we operate in three distinct businesses: grain handling and marketing, agri-products, and value-added processing. Our expertise, close relationships with producers, and superior logistical assets allow the company to consistently meet the needs of the most discerning end-use customers, helping to fulfill the nutritional needs of people around the world.

Contact Information

  • Viterra Inc.
    Peter Flengeris
    Investor Relations and Corporate Affairs
    (306) 569-4810