The forestry company says its controlling shareholder, Sauder Industries Ltd., plans to convert its multiple voting shares to class A subordinate voting shares on a share for share basis.
Sauder, which will not receive a cash or non-cash consideration for the change, plans to distribute the shares after the conversion to its individual shareholders.
Sauder chairman and chief executive Lawrence Sauder says the decision is related to internal financial planning considerations.
He intends to remain as chairman of Interfor's board of directors.
Interfor has lumber operations Canada and the United States.Suggest a correction