Business
/C O R R E C T I O N from Source -- Senvest Capital Inc./
In c8228 transmitted on Thursday, June 18, 2009, please note that the release has been modified. ...
About this update from Senvest Capital Inc.
[{"type":"text","content":"\n\n\n\nIn c8228 transmitted on Thursday, June 18, 2009, please note that the\n\n\nrelease has been modified. Revised copy follows:\n\n\nSenvest Capital Inc. Announces Acceptance by TSX of Normal Course Issuer\n\n\nBid\n\n\nMONTREAL, June 18 /CNW Telbec/ - Senvest Capital Inc. (the "Corporation")\n(TSX: SEC) announced today the acceptance by the Toronto Stock Exchange (the\n"TSX") of the Corporation's Notice of Intention to make a normal course issuer\nbid (the "NCIB"). Pursuant to the NCIB, the Corporation proposes to purchase\nthrough the facilities of the TSX from time to time, if considered advisable,\nup to an aggregate of 130,000 of its common shares, being approximately 4.5%\nof its 2,856,624 issued and outstanding common shares as of June 18, 2009.\nPurchases may commence through the TSX on June 23, 2009 and will conclude on\nthe earlier of the date on which purchases under the bid have been completed\nand June 22, 2010.\n\n\nThe average daily trading volume of the Corporation's common shares over\nthe most recently completed six calendar months was 64 common shares.\nAccordingly, the Corporation is entitled to purchase, on any trading day, up\nto 1,000 common shares. Moreover, the Corporation is entitled, no more\nfrequently than once per calendar week, to make block purchases of its common\nshares which exceed such daily limit.\n\n\nThe Corporation wishes to take advantage of the market trading prices of\nits common shares from time to time. It is the opinion of management that,\nfrom time to time, the market price of its common shares may not adequately\nreflect the value of the underlying assets of the Corporation. The Board of\nDirectors of the Corporation believes that the proposed purchases may be in\nthe best interests of the Corporation and may constitute a desirable use of\ncorporate funds. All common shares purchased by the Corporation pursuant to\nthe NCIB will be cancelled.\n\n\nOn June 23, 2008, the Corporation commenced a normal course issuer bid to\npurchase up to 130,000 common shares through the facilities of the TSX. Under\nthat bid, which is scheduled to expire on June 22, 2009, the Corporation\npurchased and cancelled a total of 11,000 of its common shares at a weighted\naverage price of $21.32 per common share.\n\n\nSenvest Capital Inc. and its subsidiaries have busines...