Alcatel Canada Inc. Announces Redemption of Exchangeable Shares on Toronto Stock Exchange
May 27 2005 - 4:31PM
PR Newswire (US)
Alcatel Canada Inc. Announces Redemption of Exchangeable Shares on
Toronto Stock Exchange OTTAWA, May 27 /PRNewswire-FirstCall/ --
Alcatel Canada Inc. (TSE:AT) announced today the Board of
Directors' determination that, effective at the close of business
on July 29, 2005, the exchangeable shares of Alcatel Canada Inc.
will be redeemed in accordance with their terms. Alcatel Holdings
Canada Corp. has informed Alcatel Canada Inc. that it intends
exercise its redemption call right and purchase all of the Alcatel
Canada Inc. exchangeable shares (other than those held by Alcatel
or any of its affiliates) as of the redemption date. On the
redemption date, holders will be entitled to receive one American
Depositary Share of Alcatel ("Alcatel ADS") for each exchangeable
share held, less any amounts which must be withheld under any
applicable tax law in payment of the total purchase price. Under
the conditions of the exchangeable shares, on and after July 29,
2005, the holders of the Alcatel Canada Inc. exchangeable shares
will cease to be holders of such shares. Upon surrender of
certificates representing the exchangeable shares, such holders
shall on and after July 29, 2005 be considered and deemed for all
purposes to be the holders of the Alcatel ADSs to which they are
entitled. About Alcatel Alcatel provides communications solutions
to telecommunication carriers, Internet service providers and
enterprises for delivery of voice, data and video applications to
their customers or employees. Alcatel brings its leading position
in fixed and mobile broadband networks, applications and services,
to help its partners and customers build a user-centric broadband
world. With sales of EURO 12.3 billion in 2004, Alcatel operates in
more than 130 countries. For more information, visit Alcatel on the
Internet: http://www.alcatel.com/ DATASOURCE: Alcatel CONTACT:
press, Charlie Guyer, +1-978-927-3490, or , or investor relations,
Charlotte Laurent-Ottomane, +1-703-668-3571, or , both of Alcatel
Web site: http://www.alcatel.com/
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