CE Franklin Ltd. Renews Normal Course Issuer Bid For Its Common Shares

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[{"type":"text","content":"\n\n\n\n\n\nCALGARY, Dec. 20, 2011 /CNW/ - CE Franklin Ltd. (NASDAQ: CFK) (TSX: CFT) announced today that its Board of Directors has authorized the renewal\n of the Company's Normal Course Issuer Bid (NCIB).  Under the renewed\n NCIB, CE Franklin may purchase for cancellation up to 850,000 of its\n Common Shares without par value (\"Common Shares\"), being approximately\n 5% of the total number of Common Shares outstanding as of the date\n hereof, from time to time in open market or privately negotiated\n transactions.  The share repurchase will be conducted solely through\n the facilities of NASDAQ and is subject to prevailing market conditions\n and other considerations.\n\n\nCE Franklin has purchased 3,102 Common Shares for cancellation under its\n existing NCIB which will expire on December 31, 2011 and purchased\n 615,479 Common Shares under its previous NCIB programs.  Purchases\n under the renewed NCIB may commence on January 3, 2012 and be made\n until December 31, 2012.\n\n\nFor more than half a century, CE Franklin has been a leading supplier of\n products and services to the energy industry. CE Franklin distributes\n pipe, valves, flanges, fittings, production equipment, tubular products\n and other general oilfield supplies to oil and gas producers in Canada\n as well as to the oilsands, refining, heavy oil, petrochemical,\n forestry and mining industries. These products are distributed through\n its 39 branches, which are situated in towns and cities serving\n particular oil and gas fields of the western Canadian sedimentary\n basin.\n\n\nForward-looking Statements: The information in this news release may\n contain \"forward-looking statements\" within the meaning of Section 27A\n of the Securities Act of 1933 and Section 21E of the Securities\n Exchange Act of 1934 and other applicable securities legislation. All\n statements, other than statements of historical facts, that address\n activities, events, outcomes and other matters that CE Franklin plans,\n expects, intends, assumes, believes, budgets, predicts, forecasts,\n projects, estimates or anticipates (and other similar expressions)\n will, should or may occur in the future are forward-looking statements.\n These forward-looking statements are based on management's current\n belief, based on currently available information, as to the outcome a...

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