Business
Transforce announces renewal of normal course issuer bid
MONTREAL , Aug. 1, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a North American lead...
About this update from Tfi International Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Aug. 1, 2013 /CNW Telbec/ - TransForce Inc. (TSX: TFI), a\n North American leader in the transportation and logistics industry,\n today announced that the Toronto Stock Exchange (\"TSX\") has approved\n the renewal of TransForce's previously-announced normal course issuer\n bid (\"NCIB\"). Under the renewed NCIB, TransForce has the right to\n purchase for cancellation, from August 2, 2013 to August 1, 2014, a\n maximum of 6,000,000 common shares, representing 6.9% of the 86,976,830\n shares forming TransForce's public float. As of July 24, 2013,\n TransForce had 91,979,723 common shares issued and outstanding.\n\n\nAny shares purchased by TransForce under the renewed NCIB will be at the\n market price of the shares at the time of such purchases. The actual\n number of shares that may be purchased and the timing of any such\n purchases will be determined by TransForce. Any purchases made by\n TransForce pursuant to the renewed NCIB will be made in accordance with\n the rules and policies of the TSX.\n\n\nDuring the most recently-completed six months, the average daily trading\n volume for the common shares of TransForce on the TSX was 291,399.\n Consequently, under the policies of the TSX, TransForce will have the\n right to repurchase under the renewed NCIB, during any one trading day,\n a maximum of 72,849 shares, representing 25% of the average daily\n trading volume. In addition, TransForce will be allowed to make, once\n per calendar week, a block purchase (as such term is defined in the TSX\n Company Manual) of shares not directly or indirectly owned by insiders\n of TransForce, in accordance with the policies of the TSX.\n\n\nIn connection with the renewed NCIB, TransForce intends to enter into an\n automatic share purchase plan with National Bank Financial Inc. in\n order to allow for purchases under the NCIB during TransForce's\n \"black-out\" periods, as permitted by the TSX Company Manual and the\n Securities Act (Québec).\n\n\nABOUT TRANSFORCE\nTransForce Inc. is a North American leader in the transportation and\n logistics industry operating across Canada and the United States\n through its subsidiaries. TransForce creates value for shareholders by\n identifying strategic acquisitions and managing a growing network of\n wholly-owned, operating subsidiaries. Under the TransForce umbrella,\n c...