Hammond Power Solutions Inc., Announces Normal Course Issuer Bid
16 3월 2012 - 6:27AM
Marketwired
Hammond Power Solutions Inc.'s ("HPS") (TSX:HPS.A) Board of
Directors has authorized the repurchase of up to 50,000 of its
Class A Subordinate Voting Shares ("Class A Shares"), representing
.57% of the 8,806,624 Class A Shares outstanding as of March 9,
2012, by way of a normal course issuer bid through the facilities
of the Toronto Stock Exchange (the "TSX"). Daily purchases will be
limited to 2,099 Class A Shares, other than block purchase
exceptions, which is 25% of the average daily trading volume of
8,398 Class A Shares of HPS on the TSX in the preceding six
calendar months.
The purchases may commence on March 19, 2012 and will terminate
no later than March 18, 2013. Purchases will be made in open market
transactions on the TSX.
Decisions regarding the timing of future repurchases will be
based on market conditions, share price and other factors. HPS may
elect to suspend or discontinue the bid at any time. Class A Shares
repurchased under the bid will be cancelled.
HPS believes that current market conditions provide
opportunities for HPS to acquire Class A Shares at attractive
prices and are an appropriate use of the HPS' funds and will
enhance shareholder value.
About Hammond Power Solutions Inc.
Hammond Power Solutions Inc. (TSX:HPS.A) is a North American and
European leader for the design and manufacture of dry-type custom
electrical engineered magnetics, electrical dry-type and cast coil
transformers. Leading edge engineering capabilities, high quality
products, and fast, responsive service to customers' needs have all
served to establish HPS as a technical and innovative leader in the
electrical and electronic industries. HPS has manufacturing plants
in Canada, United States, Mexico, Italy and India.
This press release contains forward-looking statements. These
statements are based on HPS management's assumptions and beliefs in
light of the information currently available to them. These
forward-looking statements are subject to uncertainties and other
factors that could cause actual results to differ materially from
such statements. When relying on forward-looking statements to make
decisions, HPS cautions readers not to place undue reliance on
these statements, as a number of important factors could cause
actual results to differ materially from any intentions expressed
in such forward-looking statements. HPS does not undertake to
update any forward looking statements that may be made from time to
time by or on behalf of HPS.
Contacts: Hammond Power Solutions Inc. Dawn Henderson Manager
Investor Relations (519) 822-2441 x414
Hammond Power Solutions (TSX:HPS.A)
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