Canadian Warrants

At the opening of trading on April 19 1994, PWA new common shares, non-voting common shares and redeemable warrants (collectively the new shares) began trading on the TSE on an if, as and when issued basis. The new shares are trading under the symbols PWA.W (new common shares), PWA.A (non-voting common shares) and PWA.WT.R (redeemable warrants). Pursuant to a plan of arrangement, employees, creditors and existing shareholders of PWA are entitled to receive new shares in exchange for existing securities or debt. The new shares will not be issued until the plan is implemented, and will not be issued at all if the plan is not implemented. At the same time, the existing common shares of PWA (the old common shares, Cusip 69367D 10 3) and $2.4375 cumulative redeemable retractable first preferred shares, series A continue to trade on the TSE in the regular market under the trading symbols PWA and PWA.PR.A respectively. Pursuant to the plan, holders of old common shares will receive one new common share and one redeemable warrant in exchange for their old common shares. Holders of preferred shares will receive 9.84 new common shares or non-voting common shares for each preferred share held, and one redeemable warrant for each new common share or non-voting common share received. If the plan is implemented, letters of transmittal will be mailed to holders of old common shares and preferred shares indicating that the shares should be forwarded to The R-M Trust Company in exchange for the new shares to which they are entitled under the plan. Therefore, all trades in the old common shares must be settled by delivery of old common share certificates or, if the plan is implemented, by delivery of old common share certificates or certificates for the equivalent number of new common shares and redeemable warrants.

Plan of arrangement
 
1994-04-13 07:58 MT - Miscellaneous
The new common shares, non-voting common shares and redeemable warrants of the company will be posted for trading on an if, as and when issued basis at the opening on April 15 1994. The new shares are to be issued to current holders of common shares, $2.4375 cumulative redeemable retractable first preferred shares, series A and certain creditors pursuant to a proposed plan of arrangement.
 
New Common Shares PWA.W

Cusip No. 69367D 40 0

Non-Voting Common Shares PWA.A


Cusip No. 69367D 30 1

Redeemable Warrants PWA.WT.R

Cusip No. 69367D 11 1