Jan. 4, 2013
/PRNewswire/ - Catalyst Paper Corporation announced today that final approval has been received for listing on the
Stock Exchange (TSX) of its new class of common shares (new Shares) created pursuant to its reorganization under the
Companies' Creditors Arrangement Act
that completed on
September 13, 2012
. The new Shares will begin trading on the TSX on
January 7, 2013
under the trading symbol "CYT".
Catalyst also announced that it has initiated a Small Shareholder Selling Program (SSSP). The program gives shareholders of record as of
January 3, 2013
holding 99 or fewer new Shares the opportunity to sell all of these Shares without incurring commission charges thereby minimizing their cost and inconvenience. While the SSSP does not include a mechanism to buy new Shares, the TSX listing will provide that opportunity for those who wish to purchase additional new Shares.
The SSSP will begin on
January 7, 2013
and will expire on
February 28, 2013
, unless extended. Shareholders wishing to participate in the SSSP must sell all of their new Shares. Catalyst will arrange for orders received pursuant to the program to be sent to a participating organization of the TSX (the Broker) for execution after clearance of such orders for trading. Orders received and cleared for execution will be placed with the Broker no later than
on the next business day for execution by the TSX. Orders may be aggregated, but not netted, by Catalyst or the Broker. The price received by shareholders for their new Shares will be the average price received on all orders placed with the Broker for execution on a given day, regardless of when any individual orders are executed on that day.
Catalyst and its Board of Directors are making no recommendation as to whether any shareholder should sell their new Shares pursuant to the SSSP or purchase any additional new Shares. The SSSP is entirely voluntary and shareholders are advised to contact their broker or other financial adviser as to the suitability of participating.