Business
ClubLink Enterprises Limited announces renewal of normal course issuer bid
Stock Symbol:  (TSX: CLK) KING CITY, ON, Sept. 18, 2012 /CNW/ - ClubLink Enterpr...
About this update from Twc Enterprises Limited
[{"type":"text","content":"\n\n\n\n\n\nStock Symbol:  (TSX: CLK)\n\n\nKING CITY, ON, Sept. 18, 2012 /CNW/ - ClubLink Enterprises Limited\n (\"ClubLink\") today announced that the Toronto Stock Exchange (the\n \"TSX\") has accepted a notice filed by ClubLink of its intention to make\n a normal course issuer bid through the facilities of the TSX or\n alternative Canadian trading platforms.\n\n\nThe notice provides that ClubLink may, during the twelve-month period\n commencing September 20th, 2012 and ending September 19th, 2013 purchase up to 1,317,000 common shares (\"Common Shares\") in\n total, being approximately 5% of the issued and outstanding Common\n Shares.  The price that ClubLink will pay for any such Common Shares\n will be the market price at the time of acquisition.  Management of\n ClubLink will determine the actual number of Common Shares that may be\n purchased and the timing of any such purchases.\n\n\nClubLink purchased 1,355,800 Common Shares for cancellation during the\n last twelve months with a weighted average price per share of $6.97\n including commissions.  As of September 18, 2012 there were 26,360,406\n Common Shares outstanding.  ClubLink average daily trading volume for\n the prior six months is 2,996.  Daily purchases will be limited to\n 1,000 common shares, other than block purchase exceptions.\n\n\nClubLink believes that its Common Shares have been trading in price\n ranges which do not adequately reflect their value in relation to the\n business of ClubLink and its future business prospects.  As a result,\n depending upon future price movements and other factors, ClubLink\n believes that its outstanding Common Shares may represent an attractive\n investment. Furthermore, the purchases are expected to benefit all\n persons who continue to hold Common Shares by increasing their\n proportionate interest in ClubLink.  All Common Shares purchased by\n ClubLink under the normal course issuer bid will be cancelled.\n\n\nClubLink is engaged in golf club operations under the trade name\n \"ClubLink One Membership More Golf®\".  ClubLink is Canada's largest\n owner and operator of golf clubs with 53.5 18-hole equivalent\n championship and six 18-hole academy courses at 44 locations, primarily\n in Ontario, Quebec and Florida.\n\n\nClubLink is also engaged in rail, tourism and port o...