Stock History
December 31, 1998
Noranda Distributes Interest in Nexfor Inc. (Formerly Noranda Forest)
On December 31, 1998, Noranda Inc. distributed its interest in Noranda Forest Inc. to Noranda’s shareholders. Following the divestiture, Noranda Forest Inc. was renamed Nexfor Inc.
As a result of this restructuring, common shareholders of Noranda became entitled to the following securities for each Noranda common share owned at the close of business on December 30, 1998:
1 new Noranda common share;
0.436 of a Nexfor Inc. common share; and
0.25 of a Canadian Hunter common share
Nexfor common shares closed at CAD $6.05 on December 31, 1998.
For tax purposes, Noranda Inc. asserted that it was reasonable for common shareholders to allocate 14% of the adjusted cost base of their Noranda common shares on December 31, 1998 to their new Nexfor common shares.
In general, a Canadian resident holder of Nexfor Inc. common shares who held such shares as capital property would not have realized a capital gain or loss upon the receipt of Nexfor shares unless the holder elected otherwise pursuant to the provisions of the Income Tax Act.
Shareholders should consult their tax advisors with respect to the tax consequences of the restructuring, the receipt of distributed shares and the payment for fractional interests.
June 30, 2004
Nexfor Completes Distribution of Fraser Papers Inc.; Nexfor Renamed Norbord Inc.
On June 30, 2004, Nexfor Inc. distributed its paper and timberlands business (Fraser Papers) to shareholders, resulting in the creation of a new publicly traded company, Fraser Papers Inc.
Concurrent with this distribution, Nexfor Inc. was renamed Norbord Inc.
As of June 30, 2004, one common share of Nexfor Inc. was equal to one common share of Norbord Inc. and 1/5 of a common share of Fraser Papers Inc.
For tax purposes, Norbord asserted that it was reasonable for common shareholders to allocate 75% of the cost base of their Nexfor Inc. common shares to their Norbord common shares and the remaining 25% to their Fraser Papers common shares.
In general, a Canadian resident holder of Nexfor Inc. common shares who held such shares as capital property would not have realized a capital gain or loss upon the receipt of Norbord and Fraser Papers shares unless the holder elected otherwise pursuant to the provisions of the Income Tax Act.
Shareholders should consult their tax advisors with respect to the tax consequences of the distribution, the receipt of distributed shares and the payment for fractional interests.
Please refer to page 35 of the Nexfor Management Proxy Circular dated May 3, 2004 for a detailed description of tax implications. A copy of this Circular can be found at www.sedar.com
June 23, 2009
Fraser Papers Receives Confirmation of Suspension and Delisting from the TSX
Following a delisting review, Fraser Papers received written notice from the Toronto Stock Exchange (“TSX”) confirming that Fraser Papers’ common shares would be suspended from trading prior to market open on June 23, 2009 and delisted at the close of market on July 22, 2009. The TSX’s decision came as a result of, among other things, Fraser Papers’ filing for creditor protection on June 18, 2009.
If you are a registered holder of Fraser Papers' common stock (i.e. the shares are held in your name and you have possession of the stock certificates) and have questions regarding your shares, please contact Fraser Papers’ transfer agent, CIBC Mellon at 416-643-5500 or 1-800-387-0825.