Here's the latest news release on the buying of their own stock:
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Canadian Corporate News --- Hot Off The Wire
News Release for "GEAC COMPUTER CORPORATION LTD"
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*** As of January 1, 1997, many Canadian public companies are
*** required to electronically file their disclosure documents.
*** Visit tefa.com for more information.
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NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: GEAC COMPUTER CORPORATION LTD.
TSE SYMBOL: GAC
JULY 14, 1997
Geac Computer Corporation Limited - Company Update
MARKHAM, ONTARIO--Geac Computer Corporation Limited announced
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 may purchase, if it considers it
advisable to do so, up to a maximum of 1,477,334 Common Shares
being 5% of the 29,546,688 Common Shares outstanding as at June
30, 1997. The price at which the Corporation may purchase such
shares will be the market price at the time of any particular
transaction. The bid will commence on July 16, 1997 and terminate
on July 15, 1998 unless the maximum number of Common Shares
purchased thereunder have been acquired before that time. The
Corporation purchased 115,600 of its own shares in the preceding
twelve months.
The Board of Directors of the Corporation authorized the purchase
of Common Shares because they believe such a purchase is an
appropriate and desirable use of the Corporation's available
funds. The Corporation previously reported that its cash balances
are substantially greater than is required to operate the ongoing
business, therefore the Corporation feels that this is one way to
positively use such excess funds.
The purchases shall be made only through the facilities of The
Toronto Stock Exchange (Symbol-GAC).
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FOR FURTHER INFORMATION PLEASE CONTACT:
Geac Computer Corporation Ltd. - Press Contact
Dora Cultraro
(905) 475-0525
(905) 475-3847 (FAX)
email: dorac@geac.com
INDUSTRY: CPR
SUBJECT: STK
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