Business
Canaccord Capital Inc. to renew normal course issuer bid
Canaccord Capital Inc. to renew normal course issuer bid.
About this update from Canadian Copper, Inc.
[{"type":"text","content":"\n\n\n\nVANCOUVER, Dec. 22 /CNW/ - Canaccord Capital Inc. (\"Canaccord\" or the\n\"Company\") (CCI: TSX and AIM) today announced the renewal of its normal course\nissuer bid to purchase up to 2,391,880 of its common shares through the\nfacilities of the TSX.\n\n\nThe purchase of common shares under the normal course issuer bid will\nenable the Company to acquire shares for cancellation and/or for resale to new\nemployees, existing employees, its clients and clients of Canaccord's\naffiliates.\n\n\nThe shares that may be repurchased represent 5.0% of the Company's\noutstanding common shares. As of December 20, 2006, there were 47,837,604\ncommon shares of the Company issued and outstanding. For the one year period\nfrom December 23, 2005, the Company did not purchase any shares in the normal\ncourse issuer bid announced on December 23, 2005, but the Company, through a\nwholly owned subsidiary, did purchase 195,968 common shares in exempt offers\nto former employees at an average price of $9.66 per share.\n\n\nPurchases under the normal course issuer bid are expected to be able to\ncommence on December 29, 2006, and will continue for one year (to December 28,\n2007). The amount and timing of any such purchases will be determined by\nCanaccord. All purchases will be subject to the company's normal trading\nblackouts and the availability of shares for purchase. To fulfill its\nregulatory reporting requirements in Canada and in the UK, when actively\nrepurchasing shares, Canaccord will issue a press release with an updated\nreport on the shares repurchased at a minimum of every two weeks and will\nimmediately issue a press release if more than 1% of its issued and\noutstanding common shares are repurchased for cancellation on any one day.\n\n\nABOUT CANACCORD CAPITAL INC.:\n\n\nThrough its principal subsidiaries, Canaccord Capital Inc. (TSX & AIM:\nCCI) is a leading independent, full-service investment dealer in Canada with\ncapital markets operations in the United Kingdom and the United States of\nAmerica. Canaccord is publicly traded on both the Toronto Stock Exchange and\nAIM, a market operated by the London Stock Exchange. Canaccord has operations\nin two of the principal segments of the securities industry: private client\nservices and capital markets. Together, these operations offer a wide range of\ncomplementary investmen...