George Weston Limited - Redemption of Outstanding 3% Exchangeable Debentures
TORONTO, April 7 /PRNewswire-FirstCall/ - George Weston Limited (Weston) (TSX: WN) announced today that it has given notice that it has exercised its right to redeem all of the outstanding 3% exchangeable debentures pursuant to the trust indenture dated June 29, 1998 made between Weston and Computershare Trust Company of Canada by paying cash of C$633.08 per each C$1,000 principal amount of debentures plus accrued but unpaid interest to the Redemption Date of May 22, 2008, for an aggregate amount including interest of approximately of C$139,647,000. George Weston Limited is a Canadian public company founded in 1882 and through its operating subsidiaries constitutes one of North America's largest food processing and distribution groups. Weston has two reportable operating segments: Weston Foods and Loblaw, which is operated by Loblaw Companies Limited. The Weston Foods operating segment is primarily engaged in the baking and dairy industries within North America. Loblaw is Canada's largest food distributor and a leading provider of general merchandise, drugstore and financial products and services.
SOURCE George Weston Limited