MONTREAL—Transcontinental (TC) founder and board of directors member Rémi Marcoux announced that 160,000 Class A Subordinate Voting Shares of TC would be donated to education institutions.

The shares will be donated by Capinable Inc., a corporation controlled by Marcoux. The donation will be "pursuant to the notice of intention to distribute securities from a control block filed on Jan. 7, 2013," said a company release.


Rémi Marcoux, Transcontinental founder

More information, including which schools and institutions will receive donations and how the process will work, will become available in the coming days, said Sylvain Morissette, TC chief communications officer.

What the schools do with their TC shares may vary, "depending on their own regulations and rules," he added.

According to the Globe and Mail, Transcontinental shares are valued at $11.70 as of 2:40 pm EST, Jan. 15.