IUC Stock Buyback:
No big deal, but FWIW
Thursday June 11, 12:29 pm Eastern Time
Company Press Release
International Uranium to Make Normal Course Issuer Bid for its
Common Shares
VANCOUVER, BRITISH COLUMBIA--(BUSINESS WIRE)--June 11, 1998--Int'l Uranium (TSE:IUC. - news)
International Uranium Corporation (''IUC'') announced today that The Toronto Stock Exchange has accepted
IUC's notice of intention to make a normal course issuer bid for its common shares through the facilities of The
Toronto Stock Exchange.
On June 15, 1998, IUC may commence making purchases of up to 10 percent of the public float being 41,182,140 of
its issued and outstanding common shares (representing approximately 4,118,214 shares out of 65,743,066 shares
outstanding as at June 10, 1998) on the open market through the facilities of The Toronto Stock Exchange.
As the Company has a non-independent trustee employee stock purchase plan, the number of common shares
which may be purchased under the Normal Course Issuer Bid will be reduced by the number of common shares, if
any, purchased in the open market under the Company's employee stock purchase plan. Any shares acquired
under the normal course issuer bid will be purchased at the market price for the shares at the time of acquisition
and will be cancelled. The bid will terminate on the earlier of the Company purchasing 10 percent of the public
float of its outstanding common shares, upon the Company providing notice of termination or June 14, 1999.
Proceeding with the normal course issuer bid will give IUC the flexibility to purchase its shares if it determines
that, as a result of the difference between IUC's view of the fundamental value of the shares and the market price,
it is in the best interest of IUC to do so.
ON BEHALF OF THE BOARD
Earl E. Hoellen
President |
