Olympia Financial Group Inc. announces normal course issuer bid

About this update from Olympia Financial Group Inc.

[{"type":"text","content":"\n\n\n\nCALGARY, Aug. 26 /CNW/ - Olympia Financial Group Inc. (the "Corporation")\ntoday announced that it has received approval of the TSX Venture Exchange (the\n"Exchange") to proceed with a normal course issuer bid ("NCIB") of its issued\nand outstanding common shares ("Common Shares"). As of August 25, 2009, there\nwere 2,473,552 Common Shares issued and outstanding.\n\n\nThe Corporation currently only intends on purchasing Common Shares having\na value up to $2,000,000. In any event, pursuant to the rules of the Exchange,\nthe Corporation will not purchase more than 49,471 Common Shares (being 2% of\nthe issued and outstanding shares) in any 30-day period and the Corporation\nwill not purchase more than 123,677 Common Shares (being 5% of the issued and\noutstanding shares) in the 12 month period ending August 31, 2010.\n\n\nThe bid will commence on September 1, 2009 and will continue until the\nearlier of August 31, 2010 and the date by which the Corporation has acquired\nthe maximum number of Common Shares which may be purchased under the bid.\nPurchases will be made through the facilities of the Exchange only, in\naccordance with the requirements of the Exchange, and the price at which the\nCorporation will purchase its Common Shares will be the market price of the\nCommon Shares at the time of acquisition. The Corporation has appointed\nCanaccord Capital Corporation as its broker to conduct NCIB transactions.\nCommon Shares purchased by the Corporation will be returned to treasury for\ncancellation. During the 12 months preceding the date hereof, the Corporation\ndid not repurchase any Common Shares. Purchases in any given 30-day period are\nrestricted to a maximum of 2% of the total number of outstanding Common\nShares. There is no minimum number of Common Shares that must be purchased by\nthe Corporation under the NCIB.\n\n\nTo the knowledge of the Corporation, no director, senior officer or other\ninsider of the Corporation currently intends to sell any Common Shares under\nthe NCIB. However, sales by such persons through the facilities of the\nExchange may occur if the personal circumstance of any such person change or\nany such person makes a decision unrelated to these normal course purchases.\nThe benefits to any such person whose Common Shares are purchased would be the\nsa...

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