September 10, 2002
The CPP Investment Board today announced that since May 29,2002, it has acquired ownership of an additional 2,216,244 subordinate voting shares (“Trizec Canada Shares”) of Trizec Canada Inc. (“Trizec Canada”) which represent, in the aggregate, 4.23% of all outstanding Trizec Canada Shares. The Trizec Canada Shares were acquired in 3 separate transactions completed through the facilities of The Toronto Stock Exchange between June 7, 2002 and September 10, 2002. As a result of these acquisitions, the CPP Investment Board now beneficially owns 12,500,618 Trizec Canada Shares which represent 23.86 % of all outstanding Trizec Canada Shares. Such shares represent 8.34% of all Trizec Canada subordinate and multiple voting shares and Trizec Properties Inc. shares outstanding.
The CPP Investment Board has acquired all of its Trizec Canada Shares for investment purposes and may acquire additional Trizec Canada Shares or dispose of such shares from time to time. The CPP Investment Board currently invests in publicly traded equities, with approximately 70 percent in funds based on the S&P/TSX Composite Index and 30 percent in U.S. and international index funds.
The CPP Investment Board is a crown corporation created by an Act of Parliament in December 1997. It invests funds not needed by the Canada Pension Plan to pay current pensions. Cash flows are currently invested only in equities to balance the bond portfolio owned by the Canada Pension Plan. By increasing the long-term value of funds, the CPP Investment Board will help the Plan to keep its pension promise to Canadians. The CPP Investment Board is governed and managed independently of the Canada Pension Plan and at arm’s length from governments.
For further information contact:
Mark Weisdorf
Vice President – Private Market Investments
416-868-1538