Desmarais Family Confirms Control of Power Corporation to Remain with Family MONTREAL, Oct. 16, 2013 /CNW Telbec/ - Upon the death of The Honourable PaulG.Desmarais on October 8, 2013, the direct and indirect control of PowerCorporation of Canada passed to a Québec testamentary trust governed by the Civil Code of Québec (the "Desmarais Family Residuary Trust"). The Desmarais Family Residuary Trust is for the benefit of members of the family of The Honourable Paul G. Desmarais. The trustees of the Desmarais Family Residuary Trust are Jacqueline Desmarais, Paul Desmarais, Jr., André Desmarais, MichelPlessis-Bélair and Guy Fortin. The Desmarais family member trustees determine how to vote the shares of Power Corporation controlled by the Desmarais Family Residuary Trust. The Desmarais Family Residuary Trust controls 48,603,392 Participating Preferred Shares of Power Corporation and 63,825,142Subordinate Voting Shares of Power Corporation in aggregate, representing 99.49 per cent and 15.52 per cent, respectively, of the outstanding shares of such classes and 61.10 per cent and 24.43 per cent, respectively, of thevotes and equity associated with the total outstanding shares of PowerCorporation. The shares are held for investment purposes. SOURCE Desmarais family Mr. Guy Fortin 759 Victoria Square, Suite 520 Montréal, Québec H2Y 2J7 Tel: (514) 281-3371 To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/October2013/16/c4470.html CO: Desmarais family ST: Quebec NI: FIN LAW VERDICTS LAWVIEWS FIN -0- Oct/16/2013 22:31 GMT
Desmarais Family Confirms Control of Power Corporation to Remain with Family
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