Business
TSX approval of Leon's repurchase programme for common shares
TORONTO, Sept. 6, 2012 /CNW/ - Leon's Furniture Limited announced today that it has receive...
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Sept. 6, 2012 /CNW/ - Leon's Furniture Limited announced today\n that it has received approval for a common share repurchase programme\n on The Toronto Stock Exchange.  The Company intends to repurchase for\n cancellation a maximum of 3,493,537 Common Shares representing 4.99% of\n the total number of its 70,010,775 issued and outstanding Common Shares\n as at August 31, 2012. The average daily trading volume for the six\n months ending August 31, 2012 was 6,708. Therefore, other than block\n purchase exemptions, daily purchases will be limited to 1,677 common\n shares.\n\n\nFrom September 10, 2011 to August 31, 2012, Leon's purchased 130,362\n Common Shares pursuant to a normal course issuer bid at an average\n purchase price of $11.93.\n\n\nThe bid will commence on September 10, 2012 and terminate on the\n earliest of the purchase of 3,493,537 Common Shares, the issuer\n providing a notice of termination, and September 9, 2013.\n\n\nPurchases will be executed through the facilities of the Toronto Stock\n Exchange at market price under the normal course issuer bid rules of\n the Toronto Stock Exchange.\n\n\nThe Company believes that the repurchases may enhance liquidity for\n shareholders while providing the Company with the opportunity to buy\n back its shares when it appears attractive to do so.\n\nSOURCE: Leon's Furniture Limited\n\n\n please contact Dominic Scarangella, Chief Financial Officer, at 416-243-4073. \n","length":1637,"tagName":"div"}]