MONTREAL, Sept. 30 /CNW Telbec/ - BMTC's offer to purchase up to 4,000,000 of its Class A Subordinate Voting Shares at a price of $20.00 per share expired today at 12:00 p.m., Montreal time. Based on the final report by the depositary for the offer, 3,134,147 Class A Subordinate Voting Shares were deposited as at the expiration of the offer. BMTC shall purchase for cancellation all of the 3,134,147 Class A Subordinate Voting Shares deposited under the offer.
Payment for the Class A Subordinate Voting Shares deposited and accepted for purchase will be made as promptly as practicable in accordance with the offer.
Based on the number of shares currently outstanding and after taking into account the repurchase, 16,315,718 Class A Subordinate Voting Shares will remain outstanding.
BMTC Group inc., which Class A Subordinate Voting Shares are listed on the Toronto Stock Exchange, is an important retailer of furniture, electronic goods and household appliances in the areas of Montreal, Quebec City, Repentigny, Ste-Therese, Laval, Longueuil, Kirkland, St-Georges, Trois-Rivieres, Sherbrooke, Chicoutimi, Riviere-du-Loup, Rimouski, Levis, Beauport, Ste-Foy, Gatineau, Ste-Hyacinthe, St-Jean-sur-le-Richelieu, Granby, Vaudreuil, Mascouche and St-Jerome through its subsidiaries Brault & Martineau and Ameublements Tanguay.