Cogeco 2008 Annual Report Download

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2008
ANNUAL
REPORT

Table of contents

  • Page 1
    2008 ANNUAL REPORT

  • Page 2
    ... SHARES LISTED ON THE TORONTO STOCK EXCHANGE ("TSX") UNDER THE SYMBOL CCA. COGECO CABLE BUILDS ON ITS CABLE DISTRIBUTION BASE OFFERING ANALOGUE AND DIGITAL TELEVISION, HIGH SPEED INTERNET AND TELEPHONY SERVICES. COGECO CABLE PROVIDES 2,716,874 REVENUE-GENERATING UNITS TO THE 2,427,534 HOMES PASSED...

  • Page 3
    ... SVOD VOD VoIP Wi-Fi AVERAGE MONTHLY SERVICE REVENUE PER BASIC CABLE SERVICE CUSTOMER ASYNCHRONOUS TRANSFER MODE DATA OVER CABLE SERVICE INTERFACE SPECIFICATIONS DIGITAL VIDEO RECORDER (SAME AS PERSONAL VIDEO RECORDER OR PVR) EURO CURRENCY EUROPEAN UNION HIGH DEFINITION HIGH SPEED INTERNET INTERNET...

  • Page 4
    ... BEFORE AMORTIZATION / FINANCIAL EXPENSE (3) (1) 41.4% 10.8% 2.5 6.4 39.5% 8.9% 2.6 4.4 CUSTOMERS RGU BASIC CABLE SERVICE CUSTOMERS PENETRATION AS A PERCENTAGE OF HOMES PASSED HSI SERVICE CUSTOMERS DIGITAL TELEVISION SERVICE CUSTOMERS TELEPHONY SERVICE CUSTOMERS 2,716,874 1,153,229 47.5% 632,768...

  • Page 5
    ...CANADIAN OPERATIONS 5 18 19 21 25 26 30 EUROPEAN OPERATIONS NON-GAAP FINANCIAL MEASURES THREE-YEAR ANNUAL FINANCIAL HIGHLIGHTS AND QUARTERLY FINANCIAL HIGHLIGHTS FISCAL 2009 FINANCIAL GUIDELINES ADDITIONAL INFORMATION 32 33 35 37 38 4 COGECO CABLE INC. 2008 Management's Discussion and Analysis

  • Page 6
    ... business customers data networking, e-business applications, video conferencing, hosting services, Ethernet, private line, VoIP, HSI access, dark fibre, data storage, data security and co-location services and other advanced communications services. CORPORATE OBJECTIVES AND STRATEGIES Cogeco Cable...

  • Page 7
    ... equipment. Cogeco Cable continuously seeks advanced digital compression and multiplexing techniques in order to deliver a growing number of channels with the best possible signal quality to its customers while providing better bandwidth management. The HSI platform is constantly adapted to support...

  • Page 8
    ... 13 standard definition digital television signals, or of up to 3 HD signals. Cogeco Cable is currently testing the Switched Digital Video ("SDV") technology in a limited sample system in the province of Ontario in order to assess the applicability of this technology to its network. These trials are...

  • Page 9
    ... fees from Basic Cable Television and related services, HSI and Telephony services are recognized when services are provided; Since management considers the sale of home terminal devices as a single unit of accounting of a multiple element arrangement, equipment revenue is recorded upon activation...

  • Page 10
    ...a customer's subscription is reviewed annually and changes could have a significant impact on the amortization expense. In prior years, the Corporation incurred significant marketing costs during the launch of new services, such as new digital tiers, VOD, HSI and Telephony services. These costs have...

  • Page 11
    ... Executive Officer, the Vice President, Finance and Chief Financial Officer and the Vice President, Corporate Affairs. No direct remuneration is payable to such officers by the Corporation. The Corporation granted 22,683 stock options to its officers, who also are COGECO's officers, during the 2008...

  • Page 12
    ... as cash flow hedges of the Senior Secured Notes Series A and are recorded in other comprehensive income. Loans and receivables and all financial liabilities are carried at amortized cost using the effective interest rate method. Upon adoption, the Corporation determined that none of its financial...

  • Page 13
    ... In March 2006, the Accounting Standards Board of the CICA released its new strategic plan, which proposed to abandon Canadian GAAP and effect a complete convergence to the International Financial Reporting Standards ("IFRS"). 12 COGECO CABLE INC. 2008 Management's Discussion and Analysis

  • Page 14
    ... penetration of Digital Television, HSI and Telephony services and the launch of different types of home terminal devices in Canada has heightened the complexity of tracking such customer premise equipment. Existing information systems at Cogeco Cable in Canada record such equipment located in...

  • Page 15
    ...Television and Telephony services in its footprint, making the most efficient use of its own hybrid fibre-coaxial ("HFC") plant. As markets evolve and mobility becomes a more cost-effective substitute to wireline communications, Cogeco Cable may need to add mobility components to its service bundles...

  • Page 16
    ... to deal with security breaches or new developments required in the marketplace. REGULATORY RISKS In Canada, electronic communications facilities and services are subject to regulatory requirements depending mainly on the type of facilities involved, the incumbent status of service providers...

  • Page 17
    ... use of video content through Internet access services. The CRTC has forborne from regulating the residential and business local access telephone services of the incumbent telephone companies in most of the geographic markets served by the Corporation in Ontario and Québec. As a result, Bell Canada...

  • Page 18
    ... returns. The Corporation is still considering various options to extend the term loan with alternate sources of Euro-denominated financing. HUMAN RESOURCES Cogeco Cable maintains appropriate labour relations both in Canada and in Portugal, but there is no assurance that requisite collective...

  • Page 19
    ... Audem Inc., a company controlled by Mr. Henri Audet and members of his family (the Audet Family), through the holding of multiple and subordinate voting shares of COGECO. Both Cogeco Cable and COGECO are reporting issuers with subordinate voting shares listed on the Toronto Stock Exchange. Pursuant...

  • Page 20
    ... as a result of various rate increases and RGU growth generating additional revenues which outpaced operating cost increases. The inclusion of results of the recently acquired businesses also contributed to the growth in operating income before amortization. Cogeco Cable's operating margin for the...

  • Page 21
    approximately $18.7 million in the 2008 fiscal year, and additional capital expenditures arising from the required customer premise equipment to sustain RGU growth in Canada and support the deployment of the Digital Television service in Portugal. The impact of the recent acquisitions also ...

  • Page 22
    ... $4 million. Toronto Hydro Telecom Inc., which now operates under the name of Cogeco Data Services Inc., offers data communications and other telecommunications services such as Ethernet, private line, VoIP, HSI access, dark fibre, data storage, (1) CASH FLOW FROM OPERATIONS PER SHARE DOES NOT HAVE...

  • Page 23
    ... EQUIVALENTS ACCOUNTS RECEIVABLE PREPAID EXPENSES FIXED ASSETS DEFERRED CHARGES CUSTOMER RELATIONSHIPS GOODWILL FUTURE INCOME TAX ASSETS ACCOUNTS PAYABLE AND ACCRUED LIABILITIES ASSUMED DEFERRED AND PREPAID INCOME AND OTHER LIABILITIES ASSUMED PENSION PLAN LIABILITIES AND ACCRUED EMPLOYEE BENEFITS...

  • Page 24
    ... PAID PURCHASE PRICE OF SHARES WORKING CAPITAL ADJUSTEMENT SECURED LENDERS' DEBT AND CERTAIN SPECIFIED CABOVISÃO LIABILITIES ACQUISITION COSTS 304,188 (3,371) 274,761 6,299 581,877 NET ASSETS ACQUIRED CASH AND CASH EQUIVALENTS RESTRICTED CASH ACCOUNTS RECEIVABLE PREPAID EXPENSES FIXED ASSETS...

  • Page 25
    ... use it for Digital signal distribution, including HD television signals. This migration to all-digital systems will take some time to complete and capacity upgrades should be completed by 2010. As a result, capacity upgrades will consume relatively less capital than in the past. 24 COGECO CABLE...

  • Page 26
    ...COSTS OTHER (1) SEE THE "FISCAL 2009 FINANCIAL GUIDELINES" SECTION ON PAGE 37 FOR FURTHER DISCUSSION. Equipment subsidies mainly relate to subsidies on sales of digital terminals in Canada and cable modems in Portugal. During fiscal 2008, the lower increase in deferred charges related to equipment...

  • Page 27
    ... on the changes in accounting policies, please consult the "Adoption of new accounting standards" section on page 11. CAPITAL RESOURCES AND LIQUIDITY CAPITAL STRUCTURE The table below summarizes debt-related financial ratios over the last two fiscal years and the fiscal 2009 guidelines: YEARS...

  • Page 28
    OUTSTANDING SHARE DATA A description of Cogeco Cable's share data as at September 30, 2008 is presented in the table below. Additional details are provided in note 13 on page 60. AMOUNT NUMBER OF SHARES/ OPTIONS (in thousands of dollars) COMMON SHARES MULTIPLE VOTING SHARES SUBORDINATE VOTING ...

  • Page 29
    ... 2008, Fitch Ratings ("Fitch") initiated rating coverage on Cogeco Cable. Fitch assigned a rating of BBB- for the Senior Secured Debentures and Notes. In fiscal 2007, Dominion Bond Rating Service ("DBRS") and Standard & Poor's Ratings Services ("S&P") upgraded Cogeco Cable's ratings. DBRS upgraded...

  • Page 30
    ... officers' liability insurance with a deductible per loss. As at August 31, 2008 and 2007 no liability associated with these indemnifications has been recorded. Under the terms of the Term Facility and the Senior Secured Notes, Cogeco Cable has agreed to indemnify the other parties against changes...

  • Page 31
    ... for the Digital Television service. During fiscal 2008, Telephony service customers grew by 75,965 to reach 219,601. This growth is mostly attributable to the launch of the service in new markets and increased penetration in areas where the service is already offered. Coverage of homes passed has...

  • Page 32
    ...for the monthly equipment rental fee of the standard definition-DVR receiver. These rate adjustments implemented in fiscal 2008 represent an average increase of approximately $1.60 per Basic Cable service customer. • • • o o In addition, new Digital services and VOD services contributed to...

  • Page 33
    ...management fees payable to COGECO, rose by $54.9 million, or 13.3%. Network fees increased by 13.1% during the same period, mainly attributable to the continuous rollout of the Telephony service in new areas and RGU growth. The increase of the other operating costs is related to servicing additional...

  • Page 34
    ... or 6.2%, which is slightly below the Corporation's 2008 guidelines provided in the 2007 Annual Report. The growth for fiscal 2008 is mainly due to following monthly rate increases implemented by Cabovisão: an increase of $1 (â,¬0.65) per Basic Cable service customer effective in March 2007, an...

  • Page 35
    ... income before amortization is used by Cogeco Cable's management and investors to assess the Corporation's ability to seize growth opportunities in a cost effective manner, to finance its ongoing operations and to service its debt. Operating income before amortization is a proxy for cash flows from...

  • Page 36
    ... SHARE. QUARTERLY FINANCIAL HIGHLIGHTS Cogeco Cable's revenue has consistently grown over the last eight quarters mainly as a result of improved penetration of HSI, Telephony, Basic Cable and Digital Television services, rate increases and the recent acquisitions in fiscal 2008. Furthermore, Cogeco...

  • Page 37
    ... addition of HSI service customers is generally lower, in the third quarter, mainly due to students leaving their campuses at the end of the school year. Cogeco Cable offers its services in several university and college towns such as Kingston, Windsor, St. Catharines, Hamilton, Peterborough, Trois...

  • Page 38
    .... Cogeco Cable plans to expand its Canadian Basic Cable service clientele through consistently effective marketing, competitive product offerings and superior customer service. As the penetration of HSI, Telephony and Digital Television services increases, the demand for these products should slow...

  • Page 39
    ... rate used for fiscal 2009 projections is $1.50 per Euro. ADDITIONAL INFORMATION This MD&A was prepared on November 3, 2008. Additional information relating to the Corporation, including its Annual Information Form, is available on the SEDAR web site at www.sedar.com. 38 COGECO CABLE INC. 2008...

  • Page 40
    CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS MANAGEMENT'S RESPONSIBILITY AUDITORS' REPORT CONSOLIDATED STATEMENTS OF INCOME CONSOLIDATED STATEMENTS OF COMPREHENSIVE...THE CONSOLIDATED FINANCIAL STATEMENTS 42 43 44 45 Consolidated Financial Statements COGECO CABLE INC. 2008 39

  • Page 41
    ..., with or without the presence of management. Their report follows. LOUIS AUDET PRESIDENT AND CHIEF EXECUTIVE OFFICER PIERRE GAGNÉ VICE PRESIDENT, FINANCE AND CHIEF FINANCIAL OFFICER Montreal, October 28, 2008 AUDITORS' REPORT TO THE SHAREHOLDERS OF COGECO CABLE INC. We have audited the...

  • Page 42
    ...31, (in thousands of dollars, except per share data) 2008 $ 2007 $ REVENUE SERVICE EQUIPMENT 1,070,676 6,111 1,076,787 935,390 3,490 938,880 559,559 8,568 370,753 189,323 181,430 84,569 96,861 12,170 84,691 OPERATING COSTS (NOTE 1 L)) MANAGEMENT FEES - COGECO INC. (NOTE 19) OPERATING INCOME BEFORE...

  • Page 43
    ... ISSUE COSTS (NET OF INCOME TAXES OF $4,689,000 IN 2007) DIVIDENDS ON MULTIPLE VOTING SHARES DIVIDENDS ON SUBORDINATE VOTING SHARES BALANCE, END OF YEAR 181,952 1,307 183,259 133,282 - (6,276) (13,115) 297,150 117,760 - 117,760 84,691 (10,151) (3,766) (6,582) 181,952 42 COGECO CABLE INC. 2008...

  • Page 44
    ...) 988,889 3,686 297,150 15,354 1,305,079 3,019,155 984,405 2,419 181,952 (3,110) 1,165,666 2,714,339 ON BEHALF OF THE BOARD OF DIRECTORS, JAN PEETERS DIRECTOR L. G. SERGE GADBOIS DIRECTOR Consolidated Financial Statements COGECO CABLE INC. 2008 43

  • Page 45
    ... IN FOREIGN CURRENCIES NET CHANGE IN CASH AND CASH EQUIVALENTS CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR 1,271 (27,837) 64,208 36,371 CASH AND CASH EQUIVALENTS, END OF YEAR SEE SUPPLEMENTAL CASH FLOW INFORMATION IN NOTE 16. 44 COGECO CABLE INC. 2008 Consolidated Financial Statements

  • Page 46
    ... public company whose shares are listed on the Toronto Stock Exchange ("TSX"). The Corporation's core business is providing Cable Television, High Speed Internet ("HSI") and Telephony services and other telecommunications services to its residential and commercial customers in Canada and in Portugal...

  • Page 47
    ...addition, changes in accounting methods must be applied retroactively and additional information must be disclosed. This Section applies to interim and annual financial statements relating to fiscal years beginning on or after January 1, 2007. During the first quarter of fiscal 2008, the Corporation...

  • Page 48
    ...ultimate collection is reasonably assured. The Corporation earns revenue from several sources. The recognition of revenue from the principal sources is as follows Revenue from Cable Television, HSI and Telephony services is recognized when services are provided; Revenue generated from sales of home...

  • Page 49
    ...which they are incurred . Amortization is recorded mainly on a straight-line basis over the estimated useful lives over the following periods: BUILDINGS CABLE SYSTEMS EQUIPMENT, PROGRAMMING EQUIPMENT, FURNITURE AND FIXTURES HOME TERMINAL DEVICES ROLLING STOCK AND EQUIPMENT UNDER CAPITAL LEASES OTHER...

  • Page 50
    ... reporting period. J) EMPLOYEE FUTURE BENEFITS The pension costs, recorded in operating costs, related to the defined contribution pension plan and the collective registered retirement savings plans are equivalent to the contributions that the Corporation is required to pay in exchange for services...

  • Page 51
    ...data networking, HSI access, hosting services, e-business applications, video conferencing and other advanced communications. On July 31, 2008, the Corporation completed the acquisition of all of the shares of Toronto Hydro Telecom Inc., the telecommunications subsidiary of Toronto Hydro Corporation...

  • Page 52
    ...- - 28,965 1,230 5,543 1,147 76,200 24 38,203 116,890 2,335 (4,741) (5,220) (356) (302) 230,953 (1) THE PURCHASE PRICE ALLOCATION OF COGECO DATA SERVICES INC. IS PRELIMINARY AND WILL BE FINALIZED DURING THE 2009 FISCAL YEAR. Notes to the Consolidated Financial Statements COGECO CABLE INC. 2008 51

  • Page 53
    ... PAID PURCHASE PRICE OF SHARES WORKING CAPITAL ADJUSTMENT SECURED LENDERS' DEBT AND CERTAIN SPECIFIED CABOVISÃO LIABILITIES ACQUISITION COSTS 304,188 (3,371) 274,761 6,299 581,877 NET ASSETS ACQUIRED CASH AND CASH EQUIVALENTS RESTRICTED CASH ACCOUNTS RECEIVABLE PREPAID EXPENSES FIXED ASSETS...

  • Page 54
    ...Telephony services. The Corporation considers its Cable Television, HSI and Telephony activities as a single operating segment. The Corporation's activities are carried out in Canada and in Europe. The principal financial information per business segment is presented in the table below: CANADA 2008...

  • Page 55
    ...ARISING FROM NON-DEDUCTIBLE EXPENSES EFFECT OF FOREIGN INCOME TAX RATE DIFFERENCES BENEFITS RELATED TO PRIOR YEARS' MINIMUM INCOME TAXES PAID AND NON-CAPITAL LOSS CARRYFORWARDS OTHER INCOME TAXES AT EFFECTIVE INCOME TAX RATE 54 COGECO CABLE INC. 2008 Notes to the Consolidated Financial Statements

  • Page 56
    ..., the benefits of which have been recognized in these financial statements. These losses expire as follows: 2009 (in thousands of dollars) $ - 6,696 2010 $ - 762 2014 $ - 2,007 2028 $ 5,181 5,181 FEDERAL PROVINCIAL Notes to the Consolidated Financial Statements COGECO CABLE INC. 2008 55

  • Page 57
    ... as follows: 2009 (in thousands of dollars) $ 22,361 2010 $ 7,556 2011 $ 62,616 2012 $ 32,949 7. EARNINGS PER SHARE The following table provides the reconciliation between basic and diluted earnings per share: 2008 (in thousands of dollars, except number of shares and per share data) $ 133,282...

  • Page 58
    8. FIXED ASSETS 2008 2007 $ (in thousands of dollars) $ COST LAND BUILDINGS CABLE SYSTEMS EQUIPMENT, PROGRAMMING EQUIPMENT, FURNITURE AND FIXTURES HOME TERMINAL DEVICES ROLLING STOCK AND EQUIPMENT UNDER CAPITAL LEASES OTHER EQUIPMENT LEASEHOLD IMPROVEMENTS 4,226 41,440 1,711,584 40,933 259,675 ...

  • Page 59
    ... the bank prime rate. At August 31, 2008, the interest rate on bank indebtedness is 4.75% (6.25% in 2007). This facility, which matures on July 28, 2011, is secured on the same basis and is subject to the same restrictions as the Term Facility (note 12 a)). 58 COGECO CABLE INC. 2008 Notes to the...

  • Page 60
    ... Series 1 are redeemable at the Corporation's option, in whole or in part, at the greater of par value or the Canada bond yield plus 0.3%. These debentures mature on June 4, 2009 and bear interest at 6.75% per annum, payable semi-annually. These debentures are indirectly secured by a first fixed and...

  • Page 61
    ... expense, and are as follows: 2009 (in thousands of dollars) $ 3,871 2010 $ 2,871 2011 $ 1,686 2012 $ 951 2013 $ âˆ' 13. CAPITAL STOCK AUTHORIZED Unlimited number of: Class A Preference shares, without voting rights, redeemable by the Corporation and retractable at the option of the holder at any...

  • Page 62
    ... costs, amounted to $146,899,000. STOCK-BASED PLANS The Corporation offers, for the benefit of its employees and those of its subsidiaries, an Employee Stock Purchase Plan and a Stock Option Plan for certain executives. Under these plans, no more than 10% of the outstanding subordinate voting shares...

  • Page 63
    ...stock options granted for the year ended August 31, 2008 was $12.59 ($7.39 in 2007) per option. For the purpose of compensation expense, stock-based compensation costs are amortized to expense on a straight-line basis over the vesting period, which is three to four years. 62 COGECO CABLE INC. 2008...

  • Page 64
    ... 31, 2008 related to this plan. Performance Unit Plan The Corporation also had a Performance Unit Plan for key employees, which was terminated in June 2007. The value of a performance unit granted was equal to the closing price of the subordinate voting shares of the Corporation on the Toronto Stock...

  • Page 65
    ... exposed to market risk attributable to fluctuations in foreign currency exchange rates, primarily changes in the values of the Canadian dollar versus the Euro. This risk is mitigated since the major part of the purchase price for Cabovisão was borrowed directly in Euros. As at August 31, 2008, the...

  • Page 66
    ... portion. Expenses related to these two plans amounted to $3,000,000 in fiscal 2008 ($2,307,000 in 2007). The defined benefit pension plans provide pensions based on the number of years of service and the average salary during the employment of each participant. In addition, the Corporation and its...

  • Page 67
    ...of the change in the plans' benefit obligations and plans' assets at fair value and a statement of the funded status as at August 31: 2008 (in thousands of dollars) $ 2007 $ ACCRUED BENEFIT OBLIGATION ACCRUED BENEFIT OBLIGATION, BEGINNING OF YEAR CURRENT SERVICE COST PAST SERVICE COST INTEREST COST...

  • Page 68
    ... As at August 31, 2008, the Corporation and its subsidiaries are committed under lease agreements and other long-term contracts to make annual payments as follows: 2014 AND 2009 (in thousands of dollars) $ 14,175 9,592 23,767 2010 $ 13,443 4,251 17,694 2011 $ 13,160 1,062 14,222 2012 $ 11,516 1,210...

  • Page 69
    ... Officer and the Vice President, Corporate Affairs. No direct remuneration is payable to such officers by the Corporation. However, the Corporation granted 22,683 stock options (319,647 in 2007) to COGECO Inc.'s employees during fiscal year 2008. Of the options granted in 2007, 262,400 stock options...

  • Page 70
    ... payments on US$190 million of its Senior Secured Notes Series A, which bear interest at the coupon rate of 7.00% per annum, payable semi-annually. Taking into account these agreements, the effective interest rate of the Senior Secured Notes Series A is 7.24% and the exchange rate applicable...

  • Page 71
    .... (8) OPERATING INCOME BEFORE AMORTIZATION / AVERAGE NET ASSETS EMPLOYED. (9) NET INCOME APPLICABLE TO MULTIPLE VOTING SHARES AND SUBORDINATE VOTING SHARES / AVERAGE SHAREHOLDERS' EQUITY. (10) INDEBTEDNESS NET OF CASH AND CASH EQUIVALENTS. 70 COGECO CABLE INC. 2008 Five-year Financial Highlights

  • Page 72
    ...OUTSTANDING 32,826,611 15,691,100 COMPUTERSHARE TRUST COMPANY OF CANADA 100 UNIVERSITY AVENUE, 9TH FLOOR TORONTO, ON M5J 2Y1 TEL.: 514-982-7555 STOCK EXCHANGE LISTING TRADING SYMBOL THE TORONTO STOCK EXCHANGE TEL.: 1 800-564-6253 CCA FAX: 416-263-9394 Investor Information COGECO CABLE INC. 2008...

  • Page 73
    ... $ MAY 31 $ AUG. 31 $ TOTAL THE TORONTO STOCK EXCHANGE HIGH LOW CLOSE VOLUME (SHARES) 30.50 23.93 30.10 3,632,327 44.25 29.43 42.30 11,707,088 45.67 39.50 42.75 4,984,982 52.58 41.28 45.90 6,448,360 26,772,757 72 COGECO CABLE INC. 2008 Investor Information

  • Page 74
    ... HOMES PASSED WAS REDUCED BY 42,386. (3) HSI AND TELEPHONY SERVICE CUSTOMERS WHO DO NOT SUBSCRIBE TO OTHER CABLE SERVICES AND BASIC CABLE SERVICE CUSTOMERS. (4) THE NUMBER OF DIGITAL TELEVISION SERVICE CUSTOMERS FOR FISCAL 2005 WAS RESTATED TO REFLECT CHANGES BROUGHT ABOUT BY COGECO CABLE'S BILLING...

  • Page 75
    ... PASSED BASIC CABLE SERVICE % OF CUSTOMERS PENETRATION (1) BREAKDOWN ONTARIO QUÉBEC CANADA PORTUGAL TOTAL (1) AS A PERCENTAGE OF HOMES PASSED 1,029,121 502,490 1,531,611 895,923 2,427,534 596,229 260,865 857,094 296,135 1,153,229 57.9 51.9 56.0 33.1 47.5 74 COGECO CABLE INC. 2008 Customer...

  • Page 76
    .... F.C.S.C.E. Oakville (Ontario) President and Chief Executive Officer Cooper Construction Limited Director L. G. SERGE GADBOIS, FCA, MBA Boucherville (Québec) Corporate Director Director CLAUDE A. GARCIA, B.A., B.Com Montréal (Québec) Corporate Director Director  DAVID MCAUSLAND, B.C.L., LL...

  • Page 77
    ... Vice President, Corporate Engineering YVES MAYRAND Vice President, Corporate Affairs RON A. PERROTTA Vice President, Marketing and Strategic Planning LOUISE ST-PIERRE Vice President, Customer Services and Ontario Operations ALEX TESSIER Treasurer 76 COGECO CABLE INC. 2008 Board of Directors and...

  • Page 78
    ... AND CORPORATE INFORMATION OPERATIONS HEAD OFFICE 5 Place Ville Marie Suite 1700 Montréal (Québec) H3B 0B3 Tel: 514-764-4700 Fax: 514-874-2625 www.cogeco.ca CABLE ONTARIO CABLE QUÉBEC 1630 6 Rue Suite 200 Trois-Rivières (Québec) G8Y 5B8 Tel: 819-379-2443 Fax: 819-372-3318 COGECO DATA SERVICES...

  • Page 79
    ... Toronto (Ontario) M5X 1B2 1 Place Ville Marie Suite 3900 Montréal (Québec) H3B 4M7 TRANSFER AGENT SENIOR SECURED DEBENTURES AND SENIOR SECURED NOTES Computershare Trust Company of Canada QUARTER ENDS November, February, May YEAR END August 31 78 COGECO CABLE INC. 2008 Operations and Corporate...

  • Page 80
    ... du site Internet de la société (www.cogeco.ca) ou sur demande au 514-764-4700. INVESTORS AND ANALYSTS For financial information about the Corporation, please contact the Department of Finance of the Corporation. SHAREHOLDERS For any inquiries other than a change of address, financial...

  • Page 81
    WWW.COGECO.CA