Inscape Announces Intention to Make a Normal Course Issuer Bid
(firmenpresse) - HOLLAND LANDING, ONTARIO -- (Marketwire) -- 09/26/11 -- Inscape Corporation (TSX: INQ) ("Inscape" or the "Company"), a leading designer and manufacturer of innovative solutions for today's constantly evolving workplace, offering a range of award winning products, including office furniture systems, filing and storage, desking, casegoods and architectural products, today announced its intention, subject to regulatory approval, to make a normal course issuer bid (the "Bid") through the facilities of the Toronto Stock Exchange (the "TSX"), and purchase up to 457,616 of its Class B subordinated voting shares ("the Class B shares"), representing 5% of its issued and outstanding shares of 9,152,320 as of September 26, 2011. According to the TSX regulations on the Bid, the daily purchase is limited to 1,000 shares, except that the Company may make one block purchase per calendar week which exceeds the daily purchase restriction, subject to the maximum annual aggregate limit of 457,616 shares. In the preceding 12 months beginning September 23, 2010, Inscape purchased 157,299 Class B shares at an average of $2.71 per share. Inscape believes that the purchase of its Class B shares at prevailing market prices may be a worthwhile investment and in the best interests of both Inscape and its shareholders.
Purchases of the Class B shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. Inscape intends to undertake the purchases from September 30, 2011 to September 29, 2012, unless the Bid is terminated on such earlier date as the Company may complete its purchases of 457,616 shares. All Class B shares purchased under the Bid will be cancelled.
Forward-Looking Statements
Certain of the above statements are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of many factors including, but not limited to the TSX approving the normal course issuer bid.
About Inscape
Inscape Corporation is a leading designer, manufacturer and marketer of office systems, storage and architectural wall solutions for commercial office environments. Headquartered in Holland Landing, Ontario, the company has offices and production facilities in Canada and the United States totalling approximately 438,000 square feet and serves customers through a network of authorized dealers. For more information, please visit .
Contacts:
Inscape Corporation
Kent Smallwood, CA
Chief Financial Officer
905-836-7676
905-836-5037 (FAX)
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Datum: 26.09.2011 - 20:40 Uhr
Sprache: Deutsch
News-ID 69666
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HOLLAND LANDING, ONTARIO
Kategorie:
Furniture and Furnishings
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