Tri-White Corporation announces renewal of normal course issuer bid

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[{"type":"text","content":"\n\n\n\nStock Symbol: (TSX: TWH)\n\n\nTORONTO, Sept. 18 /CNW/ - Tri-White Corporation ("Tri-White") today\nannounced that the Toronto Stock Exchange (the "TSX") has accepted a notice\nfiled by Tri-White of its intention to make a normal course issuer bid through\nthe facilities of the TSX.\n\n\nThe notice provides that Tri-White may, during the twelve-month period\ncommencing September 20th, 2008 and ending September 19th, 2009 purchase up to\n1,146,304 common shares ("Common Shares") in total, being approximately 5% of\nthe issued and outstanding Common Shares. The price that Tri-White will pay\nfor any such Common Shares will be the market price at the time of\nacquisition. Management of Tri-White will determine the actual number of\nCommon Shares that may be purchased and the timing of any such purchases.\n\n\nTri-White did not purchased Common Shares for cancellation during the\nlast twelve months. As of September 12, 2008 there were 22,926,080 Common\nShares outstanding.\n\n\nTri-White believes that its Common Shares have been trading in price\nranges which do not adequately reflect their value in relation to the business\nof Tri-White and its future business prospects. As a result, depending upon\nfuture price movements and other factors, Tri-White believes that its\noutstanding Common Shares may represent an attractive investment. Furthermore,\nthe purchases are expected to benefit all persons who continue to hold Common\nShares by increasing their proportionate interest in Tri-White. All Common\nShares purchased by Tri-White under the normal course issuer bid will be\ncancelled.\n\n\nTri-White Corporation holds a diverse leisure industry portfolio of\nassets focusing on tourism and golf with additional interests in merchant\nbanking activities. Tri-White is the largest shareholder, with a 70% interest,\nin ClubLink Corporation, Canada's leading owner and operator of high quality\nmember golf clubs, daily fee golf clubs and golf resorts with 37 properties.\nTri-White additionally owns a 100% interest in the historic White Pass & Yukon\nRoute Railway, including strategic holdings in the port operations and\nsupporting excursions, based in Skagway, Alaska.\n\n\n","length":2276,"tagName":"div"}]

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