Wednesday August 30, 10:57 am Eastern Time
Press Release
SOURCE: Leon's Furniture Limited
TSE approval of Leon's repurchase programme for common shares
TORONTO, Aug. 30 /CNW/ - Leon's Furniture Limited announced today that it has received approval for a common share repurchase programme on The Toronto Stock Exchange. The Company intends to buy for cancellation a maximum of 1,000,000 common shares representing 5.0% of the total number of its 20,561,520 issued and outstanding common shares.
The commencement date for the repurchase will begin on September 1, 2000 and terminate on the earlier of the purchase of 1,000,000 common shares, the issuer providing a notice of termination on August 31, 2001.
Transactions will be executed on the Exchange at market price under the normal course issuer bid rules of the Exchange. The Company has appointed National Bank Financial as its broker to make purchases.
The Company believes that the repurchases will enhance liquidity for shareholders while providing the Company with the opportunity to buy back its shares when it appears attractive to do so.
For further information
Terrence T. Leon, Vice President, at No. (416) 243-4073 |
