Business
Cyberplex Announces Commencement of Normal Course Issuer Bid
TORONTO, Aug. 25 /CNW/ - Cyberplex Inc. (TSX: CX) ("Cyberplex" or the "Corporation") announced to...
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\nTORONTO, Aug. 25 /CNW/ - Cyberplex Inc. (TSX: CX) ("Cyberplex" or the\n"Corporation") announced today that it has filed with the Toronto Stock\nExchange ("TSX"), and the TSX has accepted, a notice of intention to make a\nnormal course issuer bid. Under its normal course issuer bid, Cyberplex may\npurchase up to 3,483,178 of its common shares, representing approximately 10%\nof the "public float" of common shares. As of August 15, 2008, Cyberplex had\n52,642,210 common shares issued and outstanding, with a public float of\n34,831,787 common shares. Cyberplex will cancel any common shares purchased\npursuant to the normal course issuer bid. The purchases may commence on August\n28, 2008 and will terminate on August 27, 2009 or on such earlier date if\nrequired. Purchases will be made on the open market by Cyberplex through the\nfacilities of the TSX in accordance with TSX requirements. The prices that\nCyberplex will pay for any purchased common shares will be the market price of\nsuch shares at the time of acquisition. The Corporation will make no purchases\nof common shares other than open market purchases. Daily repurchases by\nCyberplex will be limited to 20,093 common shares, other than block purchase\nexceptions, based on average daily trading volumes. The Corporation has not\npurchased any of its common shares during the preceding 12 months pursuant to\na normal course issuer bid.\n\n\nThe Corporation believes that from time to time the common shares of the\nCorporation have been trading at prices that do not reflect the underlying\nvalue of the Corporation. As a result, Cyberplex believes that its common\nshares are a good investment at its current and recent prices.\n\n\nAbout Cyberplex\n\n\n---------------\n\n\nCyberplex Inc. (www.cyberplex.com) is a leader in providing web\nadvertising solutions, online customer acquisition strategies and technology\ndevelopment. The Company, through its subsidiaries, leverages its proprietary\naffiliate network, robust advertising relationships and experience, and\ntechnology design, development and solutions specialists to develop and\nimplement web-based programs and solutions that deliver results.\n\n\nWith over 14 years of experience serving Fortune 1000 clients including\nFTD, Xerox, Sony Canada, IAC, Atlantic Lottery Corporation, Vi...