Business
Dorel Industries Inc. intends to make normal course issuer bid
EXCHANGES TSX:  DII.B, DII.A MONTREAL, April 30, 2013 /CNW Telbec/ - Dorel Indu...
About this update from Dorel Industries Inc. Class A
[{"type":"text","content":"\n\n\n\n\n\nEXCHANGESTSX: DII.B, DII.A\n\n\nMONTREAL, April 30, 2013 /CNW Telbec/ - Dorel Industries Inc. (TSX:\n DII.A DII.B) announces that it intends to make a normal course issuer\n bid.  Under the normal course issuer bid, Dorel will be entitled to\n repurchase for cancellation up to 850,000 Class B Subordinate Voting\n Shares over a twelve-month period commencing May 2, 2013 and ending May\n 1, 2014, representing 3.07% of Dorel's issued and outstanding Class B\n Subordinate Voting Shares. The purchases by Dorel will be effected\n through the facilities of the Toronto Stock Exchange and will be made\n at the market price of the Class B Subordinate Voting Shares at the\n time of the purchase. As at April 25, 2013, there were 27,662,103 Dorel\n Class B Subordinate Voting Shares issued and outstanding.\n\n\nDuring the most recently completed six months, the average daily trading\n volume for the Class B Subordinate Voting Shares of Dorel on the\n Toronto Stock Exchange was 41,375 shares.  Consequently, under the\n policies of the Toronto Stock Exchange, Dorel will have the right to\n repurchase during any one trading day a maximum of 10,343 Class B\n Subordinate Voting Shares, representing 25% of the average daily\n trading volume.  In addition, Dorel may make, once per calendar week, a\n block purchase (as such term is defined in the TSX Company Manual) of\n Class B Subordinate Voting Shares not directly or indirectly owned by\n insiders of Dorel, in accordance with the policies of the Toronto Stock\n Exchange.\n\n\nThe Board of Directors of Dorel considers that the underlying value of\n Dorel may not be reflected in the market price of its Class B\n Subordinate Voting Shares at certain times during the term of the\n normal course issuer bid.  The Board has therefore concluded that the\n repurchase of shares at certain market prices may constitute an\n appropriate use of financial resources and be beneficial to Dorel and\n its shareholders.\n\n\nAny purchases made pursuant to the normal course issuer bid will be made\n in accordance with the requirements of the Toronto Stock Exchange. \n Dorel will make no purchases of Class B Subordinate Voting Shares other\n than open market purchases during the period of the normal course\n issuer bid.  To the knowledge of Dorel, no director or officer of...