Mosaic Renews Stock Buyback Program
July 11, 2000
TORONTO, ONTARIO--Mosaic Group Inc. (MGX:TSE), Canada's leading
outsourced marketing services company, announced today that the
Toronto Stock Exchange (TSE) has accepted Mosaic's notice of its
intention to renew its Normal Course Issuer Bid through the
facilities of the TSE. Under the terms of the renewal, the number
of common shares that can be purchased under the bid will be
2,000,000 shares. The number of shares that could be purchased
represents 2.78 percent of Mosaic's 71,890,180 shares outstanding.
Purchases under the bid may commence July 13, 2000 and will
terminate July 12, 2001 or on such earlier date as Mosaic may
complete its purchases pursuant to the bid. All shares purchased
under the bid will be cancelled. The bid is being made because
Mosaic believes that it will help reduce the volatility in the
public market for its common shares. During the last 12 months,
Mosaic purchased 44,500 shares through the facilities of the TSE
at an average price of $8.17.
Mosaic Group Inc., with operations in the Canada, the United
States, and Europe, provides outsourced marketing services on an
integrated basis to leading corporations serving international
markets. Fortune 500 companies turn to Mosaic to develop
innovative solutions to increase product sales and increase brand
awareness through electronic marketing, e-commerce, new media
services, contract sales, merchandising, field marketing, direct
marketing, database development and management, product promotion,
corporate communications and sales force training. Mosaic trades
on the TSE under the symbol MGX. Further information on Mosaic can
be found on its web site at www.mosaicgroupinc.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mosaic Group Inc.
Ben W. Kaak, CFO
(416) 813-4272
kaakb@mosaicgroupinc.com
or
Mosaic Group Inc.
Donna Cox-Davies, Director of Communications
(416) 813-4279
cox-daviesd@mosaicgroupinc.com |
