Companys announcement in Nov.'98 a repurchase of its common shares, due to the shares are undervalued.
fin-info.com
Canadian Company Press Release
SXC 1998-11-06 (provided courtesy of Canadian Corporate News.)
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Systems Xcellence Announces Common Share Repurchase Plan
MILTON, ONTARIO--Systems Xcellence Inc. (the "Corporation"), a
global leader in the healthcare information technology industry,
gave notice today that it intends to make a normal course issuer
bid for its common shares through the facilities of The Toronto
Stock Exchange.
The Corporation intends to purchase, if it considers it reasonable
to do so, up to a maximum of 820,232 common shares, representing
approximately ten percent of the Corporation's public float of
8,202,325 common shares as at close of business on November 5,
1998. The Corporation currently has 19,870,643 common shares
issued and outstanding. The Corporation has a strong cash
position and believes that its common shares are undervalued.
Any common shares purchased will be cancelled. The price at which
the Corporation will purchase such shares will be their market
price at the time of any particular transaction.
The bid will commence on November 11, 1998, and terminate on
November 10, 1999, unless the maximum number of shares purchasable
thereunder has been acquired before that time. During the twelve
months preceding the date of the bid, the Corporation has not
acquired any of its common shares pursuant to any normal course
issuer bid.
Systems Xcellence, headquartered in Milton, Ontario, is a leading
international supplier of patient-centric electronic transaction
processing solutions for the healthcare information technology
industry. Systems Xcellence combines robust, high-volume,
high-availability transaction processing products, business
expertise and services to deliver superior solutions to the
demanding managed care sector. Systems Xcellence Inc. can be found
on the World Wide Web at systemsxcellence.com.
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FOR FURTHER INFORMATION PLEASE CONTACT:
Systems Xcellence Inc.
Jim Ryan
Chief Financial Officer
(905) 876-4741
Email: investors@sx.com (FAX)
www.systemsxcellence.com
A Happy New Year To All , and the Best for '99
Regards,
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