Woodbridge signals it may sell Toronto shares, buy London ones

The company announced in Toronto that it had made a Canadian regulatory filing that would permit it to undertake transactions providing for sales of up to 10 million additional Thomson Reuters Corporation common shares (representing approximately two per cent of its holdings of Thomson Reuters Corporation common shares) and purchases of a similar number of Thomson Reuters PLC ordinary shares.

The filing does not commit Woodbridge to undertake any of these transactions. Woodbridge previously announced and completed similar transactions in the fourth quarter of 2008.

Any share sales would be through the Toronto Stock Exchange within 30 days. Purchases would be through the London Stock Exchange.

One ordinary share of Thomson Reuters PLC is equivalent to one common share of Thomson Reuters Corporation under Thomson Reuters dual listed company structure. As of yesterday, Woodbridge and other companies affiliated with it beneficially owned an aggregate of 439,767,486 Thomson Reuters Corporation common shares and 15,375,287 Thomson Reuters PLC ordinary shares (including ordinary shares underlying Thomson Reuters PLC American Depositary Shares) and had a voting interest in Thomson Reuters of approximately 55 per cent.

The London listing has traded at a discount to the North American quotes since Thomson's takeover of Reuters was completed last April. ■