Mar 19, 2013. /Lesprom Network/. Norbord Inc. announced that effective March 25, 2013, it will amend certain terms of the Warrant Indenture dated December 24, 2008 by a supplemental warrant indenture (the "Supplemental Indenture") to include a cashless exercise feature. Norbord believes this cashless exercise feature may reduce the number of common shares issued upon exercise of the Warrants, as the company said in a press release received by Lesprom Network. 

Under the current terms of the Warrant Indenture, exercising 10 Warrants together with the payment of the current Exercise Price of $13.60 entitles holders of Norbord warrants ("Warrantholders") to receive one common share ("Common Share") of Norbord.

Effective March 25, 2013, Warrantholders will also be provided with the choice to elect to exercise their Warrants on a cashless basis, and receive Common Shares based on the in-the-money amount of their Warrants.

Norbord Inc. is an international producer of wood-based panels. Norbord is one of the world's largest producers of oriented strand board (OSB). In addition to OSB, Norbord manufactures particleboard, medium density fibreboard (MDF) and related value-added products.