Common Share Buy Back Program of TECSYS Inc.

About this update from Tecsys Inc.

[{"type":"text","content":"\n\n\n\nMONTREAL, July 16 /CNW Telbec/ - TECSYS Inc. (TSX: TCS) announces that\nthe Toronto Stock Exchange (the "TSX") has accepted its notice of intention to\nrenew its "normal course issuer bid" to purchase some of its outstanding\ncommon shares through the facilities of such exchange. Up to 650,184 common\nshares, being approximately 5% of the 13,003,684 common shares outstanding as\nof July 4, 2008 may be bought under the bid. The common shares will be\npurchased by TECSYS for cancellation.\n\n\nThe number of shares that TECSYS intends to purchase and the time of such\npurchases will be determined by TECSYS, at its discretion. The purchase period\nwill begin July 21, 2008 and will end on the earlier of July 20, 2009 or the\ndate on which TECSYS will have either acquired the maximum number of common\nshares or otherwise decided not to make any further purchases.\n\n\nThe Board of Directors of TECSYS has concluded that the purchase of up to\n650,184 common shares is a desirable use of funds for TECSYS and, therefore,\nwould be in the best interests of TECSYS and its shareholders. The purpose of\nthe purchases of common shares is to increase the proportionate share interest\nin TECSYS of those shareholders who retain their shares. Within the past\ntwelve months, TECSYS purchased 680,400 common shares at an average price of\n$1.48 per common share under a normal course issuer bid which will expire on\nJuly 18, 2008.\n\n\nThe average daily trading volume of TECSYS over the last six complete\ncalendar months was 10,841 common shares (the "ADTV"). Under TSX rules, TECSYS\nmay purchase up to 25% of the ADTV (or 2,710 common shares) per trading day.\nOnce a week, in excess of the daily repurchase limit, TECSYS may purchase a\nblock of common shares not owned by an insider (i) having a purchase price of\n$200,000 or more, (ii) of at least 5,000 common shares with a purchase price\nof at least $50,000, or (iii) of at least 20 board lots of common shares which\ntotal 150% or more of the ADTV.\n\n\nTo the knowledge of TECSYS, after reasonable inquiry, no director, senior\nofficer or any of their associates, or any person acting jointly or in concert\nwith TECSYS, or any person holding 10% or more of the voting shares currently\nintends to sell common shares under the issuer bid.\n\n\n","length":2378,"tagName...

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