LGS Group - Normal Course Issuer Bid
MARCH 30, 1999
MONTREAL, QUEBEC--The Board of Directors of LGS Group Inc. today
authorized a normal course issuer bid to purchase for
cancellation, commencing April 1, 1999 up to and including March
31, 2000, up to a maximum of 946,445 Class A Subordinate Voting
Shares, being approximately 10 percent of the public float of
9,464,452 Class A Subordinate Voting Shares (i.e. the number of
Shares issued and outstanding at the commencement of the Offer not
held by insiders). There are approximately 9,977,439 Class A
Subordinate Voting Shares outstanding.
The Corporation believes that the repurchases of these shares,
pursuant to this normal course issuer bid, is in the best interest
of the Corporation and its shareholders.
These purchases are to be made through the facilities of The
Montreal Exchange in accordance with its policy on normal course
issuer bids. The price which the Corporation will pay for any
Class A Subordinate Voting Shares will be the market price at the
time of acquisition plus brokerage fees. Purchases may commence
on April 1, 1999 and will terminate no later than March 31, 2000.
The Corporation has not purchased any of its outstanding Class A
Subordinate Voting Shares within the 12 months preceding the date
of this normal course issuer bid. To the knowledge of the
directors and officers of the Corporation, no director or officer
of the Corporation, no associate of a director or officer of the
Corporation, no person acting jointly or in concert with the
Corporation and no person holding 10 percent or more of the common
shares of the Corporation has any present intention to sell common
shares during the period of the normal course issuer bid.
LGS Group Inc. (LGSAF at NASDAQ, LGS.A at ME) is one of Canada's
largest information technology consulting firms specializing in
management and systems integration. With annual sales exceeding
$134 million in the last financial year and $160 million in the
current nine months, LGS employs approximately 2,200 professionals
in 19 offices in Canada, the United States and Europe. The
company is active in most of the private and public sectors.
This release may contain forward-looking statements that involve
risks and uncertainties which might cause the actual results to
differ materially from those projected. Potential risks and
uncertainties include the ability to procure, properly price,
retain, and successfully complete projects, the availability of
technical personnel, and competition. These risks and
uncertainties are discussed under the heading "Risk Management "
in the Company's Annual Report. |
