| International Minerals Warrants |
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| International Minerals |
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Name - Tembec Inc
Address: 1050 Rene Levesque Blvd W
Montreal QC H3B 1X9
Phone: 514 871 0137 Fax: 514 397
0896
Website -
http://www.tembec.com/
Warrant Symbol -
TMB.WT
Number Trading -
Expiration Date -
February 29, 2012
Cusip - 87974D 11 8
Warrants called to trade news:
Tembec substitutional share listing
2008-02-28 19:44 MT - Substitutional Listing
TSX bulletin 2008-0245
In anticipation of a plan of arrangement and recapitalization of Tembec Inc., as described in the management proxy circular of old Tembec dated Jan. 25, 2008, becoming effective after the close on Friday, Feb. 29, 2008, Tembec Inc. (a new corporation created for the purpose of implementing the plan) will issue the following securities to be listed and posted for trading at the open on Monday, March 3, 2008, under the trading information set out below in substitution for the currently listed common shares of old Tembec common shares and four-year warrants to receive new common shares.
New stock trading
Securities Symbol Cusip No. Currency
New common shares TMB 87974D 10 0 Canadian dollars
Warrants TMB.WT 87974D 11 8 Canadian dollars
Designated market-maker: W.D. Latimer Co. Ltd.
Other markets: None
Transfer agent and registrar: Computershare Trust Co. of Canada in Montreal and Toronto
Pursuant to the plan, shareholders of old Tembec will receive, for every 100 existing common shares held (as provided for in the circular): (a) 5.84 new common shares; and (b) approximately 12.9778 warrants. If an existing common shareholder owns less than 18 existing common shares on the effective date, such shareholder will not receive one whole new common share, but will receive a cash amount for its fractional interest and will receive its appropriate number of warrants (and cash for any fractional interests in a warrant). If an existing common shareholder owns less than eight existing common shares on the effective date, such shareholder will not receive one whole new common share nor one whole warrant, but will receive only a cash amount for its fractional interests.
If the plan becomes effective as anticipated, at the close on Friday, Feb. 29, 2008, the new securities will commence trading on the Toronto Stock Exchange at the open on Monday, March 3, 2008, and the existing common shares will be halted and remain so until the close that day, at which time they will be delisted. The TSX will release a trader note prior to the open on Monday, March 3, 2008, advising whether or not the plan has become effective and advising as to which securities will be traded on the TSX. Should the plan not become effective as anticipated, at the close on Friday, Feb. 29, 2008, trading will continue in the existing common shares and there will be no trading in the new securities, all until further notice from the TSX.
It is understood that letters of transmittal were mailed to shareholders of old Tembec on or about Jan. 29, 2008, advising shareholders to forward the certificates representing their existing common shares, together with a duly completed and executed letter of transmittal, to Computershare Investor Services Inc. in Toronto in order to receive the consideration to which they are entitled to under the plan.
Each warrant will entitle its holder to receive, for a period of four years from the effective date, one new common share automatically and for no additional consideration upon the 20-day volume-weighted average trading price reaching $12, as further described in the circular. The warrants will be governed by the terms of a warrant indenture, to be dated Feb. 29, 2008, between new Tembec and Computershare in Montreal, as trustee. The warrant indenture will provide for appropriate adjustments to the warrants in the event of stock dividends, subdivisions, consolidations and other forms of capital reorganization.
Refer to the circular for further details on the provisions of the new common shares and warrants.