Business
BMTC Group inc. announces the renewal of its normal course issuer bid
BMTC Group inc. announces the renewal of its normal course issuer bid.
About this update from Bmtc Group Inc. Class A
[{"type":"text","content":"\n\n\n\n\nMONTREAL, Aug. 31 /CNW Telbec/ - BMTC Group Inc. announces its intention\nto renew its programs to acquire Class A Subordinate Voting Shares listed on\nthe Toronto Stock Exchange and Class B Multiple Voting Shares, which are not\nlisted on the Toronto Stock Exchange, for the period between September 6, 2006\nand September 5, 2007 at the latest, subject to regulatory approval. BMTC\nGroup Inc.'s previous programs will expire on September 5, 2006. Pursuant to\nits renewed programs, BMTC Group Inc. intends to acquire, through the\nfacilities of the Toronto Stock Exchange, up to 10% of the public float of its\nClass A Subordinate Voting Shares representing 1,689,578 of such shares as of\nAugust 31, 2006, and to acquire up to 5% (less one share) of its Class B\nMultiple Voting Shares representing 622,227 of such shares as of August 31,\n2006. The Class A Subordinate Voting Shares and the Class B Multiple Voting\nShares acquired pursuant to these programs will be cancelled. As of August 31,\n2006, there were 21,118,747 Class A Subordinate Voting Shares and 12,444,553\nClass B Multiple Voting Shares issued and outstanding. Class A Subordinate\nVoting Shares and Class B Multiple Voting Shares may be acquired at the market\nprice at the time of the acquisition. BMTC Group Inc. considers that the\nacquisition of such Class A Subordinate Voting Shares and Class B Multiple\nVoting Shares, that it may effect from time to time in the course of this Bid,\nis a sound use of its funds.\nBMTC Group Inc. acquired for cancellation between September 6, 2005 and\nAugust 31, 2006, a total of 1,241,440 Class A Subordinate Voting Shares with\nrespect to which the average price paid was $18.36 per share, and 88,760 Class\nB Multiple Voting Shares with respect to which the average price paid was\n$16.53 per share.\n\nBMTC Group Inc., which Class A Subordinate Voting Shares are listed on\nthe Toronto Stock Exchange, is an important retailer of furniture, electronic\ngoods and household appliances in the Montreal, Quebec City, Laval, Ste-Foy,\nSherbrooke, Trois-RiviGeres, Rimouski, St-Georges, RiviGere-du-Loup, Chicoutimi,\nand Gatineau regions through its affiliates Brault & Martineau Inc. and\nAmeublements Tanguay.\n\n\n","length":2284,"tagName":"div"}]