TC Transcontinental's Board of Directors authorizes a special distribution related to the sale of its packaging sector

MONTREAL, March 10, 2026 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) ("TC Transcontinental" or the "Corporation") is pleased to announce that, in connection with the closing of the sale of the Corporation’s Packaging Sector to ProAmpac Holdings Inc. and certain of its subsidiaries, as previously announced on March 6, 2026, the Board of Directors of the Corporation has authorized a special cash distribution of $20.00 (the “Distribution”) per Class A Subordinate Voting Share (the "Class A Shares") and Class B Share (the "Class B Shares"), to be effected by: (i) a reduction of stated capital of approximately $7.00 per Class A Share, and (ii) a cash dividend for the balance of the Distribution. The Distribution will be payable on Friday, March 20, 2026 (the “Payment Date”), to shareholders of record holding Class A Shares and Class B Shares as of March 18, 2026 (the “Record Date”).

As the amount of the Distribution exceeds 25% of the Class A Share and Class B Share prices, the Toronto Stock Exchange requires that the Class A Shares and the Class B Shares trade on a "due bill" basis from the opening of trading on the Record Date until the close of trading on the Payment Date. During this period, sellers of Class A Shares and Class B Shares will transfer to purchasers both the Class A Shares and the Class B Shares and the entitlement to the Distribution.

For trading purposes, due bills will attach to the Class A Shares and the Class B Shares from the opening of business on Wednesday, March 18, 2026, being the Record Date, until the close of business on the Payment Date being Friday, March 20, 2026, so that the shares will carry the value of the Distribution until the Distribution has been paid. The Class A Shares and Class B Shares will commence trading on an “ex-distribution” basis on Monday, March 23, 2026, as of which date purchasers of the shares will no longer have an attaching entitlement to payment of the Distribution. The due bill redemption date will be Monday, March 23, 2026.

Forward-looking statements

This press release contains forward-looking statements which are based on the expectations of management and inherently subject to a certain number of risks and uncertainties, known and unknown. By their very nature, forward-looking statements are derived from both general and specific assumptions. Forward-looking statements include, among others, statements with respect to the anticipated amount of the Distribution and the timing thereof, including the Record Date, Payment Date and ex-distribution date and the expected due bill trading period and redemption date.

The Corporation disclaims any obligation to update forward-looking statements except as required by law.

About TC Transcontinental

Founded 50 years ago and 4,000 employees strong, Transcontinental Inc. (TSX: TCL.A TCL.B), known under the TC Transcontinental brand, is a Canadian retail marketing services company, Canada's largest printer, and the Canadian leader in French-language educational publishing. Driven by the vision of a more informed, educated and prosperous society, TC Transcontinental propels its clients' success across the retail, education, book and information industries. With agility, creativity and boldness, we design and deliver innovative, high-value products and services. 

The Corporation's revenues from continuing operations were $1.1 billion for the fiscal year ended October 26, 2025. Until the sale of its Packaging Sector to ProAmpac, which was completed on March 6, 2026, the Corporation was also a North American leader in flexible packaging with approximately 3,600 employees, and revenues from the Corporation's discontinued operations were $1.6 billion for the fiscal year ended October 26, 2025. For more information, please visit www.tc.tc.