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Cyberplex Inc. Announces Commencement of Normal Course Issuer Bid
Cyberplex Inc. Announces Commencement of Normal Course Issuer Bid.
About this update from Eq Inc.
[{"type":"text","content":"\n\n\n\n\nTORONTO, Nov. 18 /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 2,627,150 of its common shares, representing approximately 10%\nof the \"public float\" of common shares. As of November 7, 2005, Cyberplex has\n32,426,249 common shares issued and outstanding, with a public float of\n26,271,549 common shares. Cyberplex will cancel any common shares purchased\npursuant to the normal course issuer bid. The purchases may commence on\nNovember 21, 2005 and will terminate on November 20, 2006, or on such earlier\ndate as Cyberplex may complete its purchases pursuant to the notice of\nintention to make a normal course issuer bid filed with the TSX. Purchases\nwill be made on the open market by Cyberplex through the facilities of the TSX\nin accordance with TSX requirements. The prices that Cyberplex will pay for\nany purchased common shares will be the market price of such shares on the TSX\nat the time of acquisition. The Corporation will make no purchases of common\nshares other than open-market purchases.\nIn the opinion of the Corporation's Board of Directors, the common shares\nhave been trading at prices that do not reflect the underlying value of the\nCorporation. As a result, Cyberplex believes that its common shares are a good\ninvestment at its current and recent prices.\n%SEDAR: 00005639E\n\n\n","length":1621,"tagName":"div"}]