Business
TSX APPROVAL OF LEON'S REPURCHASE PROGRAMME FOR COMMON SHARES
TSX APPROVAL OF LEON'S REPURCHASE PROGRAMME FOR COMMON SHARES
About this update from Leon's Furniture Limited
[{"type":"text","content":"\n\n\n\n Sep. 8, 2010 (Canada NewsWire Group) -- \n\n \n \n \nTR.cnwUnderlinedCell TD {\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD {\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell {\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell {\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell {\n BORDER-BOTTOM: #000000 3px solid\n}\n\nTORONTO, Sept. 8 /CNW/ - Leon's Furniture Limited announced today that it has received approval for a common share repurchase programme on The Toronto Stock Exchange. The Company intends to repurchase for cancellation a maximum of 3,497,716 Common Shares representing 4.99% of the total number of its 70,094,516 issued and outstanding Common Shares as at August 31, 2010. Daily purchases will be limited to 3,241 common shares, other than block purchase exemptions.\nFrom September 10, 2009 to August 31, 2010, Leon's purchased 810,418 Common Shares pursuant to a normal course issuer bid at an average purchase price of $11.43.\nThe bid will commence on September 10, 2010 and terminate on the earliest of the purchase of 3,497,716 Common Shares, the issuer providing a notice of termination, and September 9, 2011.\nPurchases will be executed through the facilities of the Toronto Stock Exchange at market price under the normal course issuer bid rules of the Toronto Stock Exchange.\nThe Company believes that the repurchases will enhance liquidity for shareholders while providing the Company with the opportunity to buy back its shares when it appears attractive to do so.\n\n\n\n\nDominic Scarangella, Chief Financial Officer, at 416-243-4073\n\n","length":1950,"tagName":"div"}]