November 11, 1997: Amendment To Common Share Buy Back Program
United Dominion Industries Ltd. today announced that the company is amending its normal
course issuer bid to repurchase outstanding common shares, which commenced March 5, 1997,
to increase the number of common shares it may repurchase thereunder. Under the existing bid to
date, United Dominion has repurchased 1,992,240 common shares at an average price of
CDN$38.22 per share. The amended normal course issuer bid will allow United Dominion to
repurchase by February 28, 1998, up to an additional 270,260 common shares, for an aggregate
of up to 2,262,500 common shares, representing just under five percent of the outstanding
shares of United Dominion as at January 31, 1997.
Repurchases will be made through either The Toronto Stock Exchange or The Montreal
Exchange. Transactions will be executed at market prices to effect the repurchase of common
shares in accordance with the rules of the exchanges relating to normal course issuer bids.
Midland Walwyn Capital Inc. is United Dominion's approved broker, making purchases under
the bid.
United Dominion is a diversified manufacturer of proprietary engineered products for customers
worldwide. The company has approximately 11,000 employees at 68 operating locations in 16
countries.
United Dominion Industries Ltd. Nancy Spurlock Media (704) 347-6838 |
