Fibrek to not approve, reject shareholder rights plan adopted on Dec. 19, 2011 following Quebec's decision to issue cease trade order; company continues to recommend shareholders accept Mercer offer and reject Resolute offer
February 14, 2012
– Fibrek Inc. ("Fibrek" or the "Corporation") announced today that, in light of the decision of the Bureau de décision et de révision (Québec) on February 9, 2012, to issue a cease trade order with respect to Fibrek's shareholder rights plan adopted on December 19, 2011 (the "Plan"), the Toronto Stock Exchange ("TSX") has determined to reject and not to approve the Plan for filing.
The Board of Directors continues to unanimously recommend that shareholders ACCEPT and TENDER their common shares to the offer made by Mercer International Inc. to acquire all of the issued and outstanding common shares of Fibrek by way of take-over bid and to REJECT and NOT TENDER their common shares to the unsolicited offer made by AbitibiBowater Inc.
For more information on how to tender Fibrek Common Shares or for any other inquiries regarding the Mercer Offer, please contact Fibrek's information agent, Phoenix Advisory Partners, at 1-800-398-1129 (North American Toll Free) or via email at firstname.lastname@example.org.
Fibrek (TSX: FBK) is a leading producer and marketer of high-quality virgin and recycled kraft pulp. The company operates three mills located in Saint-Félicien, Québec, Fairmont, West Virginia, and in Menominee, Michigan with a combined annual production capacity of 760,000 tonnes. Fibrek has approximately 500 employees. The Saint-Félicien mill provides northern bleached softwood kraft pulp (product known as NBSK pulp) to various sectors of the paper industry mainly in Canada, the United States and Europe, for use in the production of specialized products. The Fairmont and Menominee mills manufacture air-dried recycled bleached kraft pulp (product known as RBK pulp) and primarily supply manufacturers of fine uncoated paper, tissue paper for commercial and industrial uses, and coated paper in the United States.