30th Aug 2005 13:35
Notification of cancellation of common shares by Canaccord Capital Inc. VANCOUVER, Aug. 30 /CNW/ - Canaccord Capital Inc. (CCI: TSX & AIM)repurchased between August 16, 2005 and August 26, 2005, 183,400 of its commonshares for cancellation at an average price of $10.58 per share under theterms of its Normal Course Issuer Bid (NCIB), which was commenced on December 29, 2004, through the facilities of the Toronto Stock Exchange. Thecommon shares were cancelled effective the day of their purchase and have beencancelled on the Toronto Stock Exchange ("TSX") and Alternative InvestmentMarket ("AIM"). As of August 26, 2005, the total number of common sharesremaining available for repurchase under the NCIB is 1,884,015 and the totalnumber of outstanding common shares of CCI is 45,929,368. Background on capital management plan and the NCIB The Board of Directors announced on August 5, 2005, that it had approveda capital management plan to repurchase for cancellation up to a maximum of500,000 common shares in fiscal 2006 from the 2,067,415 common sharesavailable under the NCIB as of August 5, 2005. The Board has approved thisadditional use of the NCIB to help absorb the excess capital that wasgenerated in the last year, as well as any further excess generated in fiscal2006. Canaccord may apply to renew the NCIB when it expires on December 28,2005. All purchases will be subject to the company's normal trading blackoutsand the availability of shares for purchase. It is expected that between zeroand 130,000 common shares will be purchased per day. The amount and timing ofany such further repurchases will be determined by Canaccord. To fulfill itsregulatory reporting requirements, when actively repurchasing shares forcancellation Canaccord will issue a press release with an updated report onthe shares repurchased at a minimum of every two weeks and will immediatelyissue a press release if more than 1% of its outstanding common shares arerepurchased for cancellation on any one day. A normal course issuer bid is a purchase by a TSX listed company of itsown shares through the facilities of the TSX in accordance with its rules. Thepurchase of common shares under the normal course issuer bid enables Canaccordto acquire common shares for cancellation or for resale. ABOUT CANACCORD CAPITAL INC.: Canaccord Capital Inc. is a leading independent full service investmentdealer, publicly traded on both the Toronto Stock Exchange and the AlternativeInvestment Market, a market operated by the London Stock Exchange. Canaccordhas operations in two of the principal segments of the securities industry:Private Client Services and Global Capital Markets. Together, these operationsoffer a wide range of complementary investment products, brokerage servicesand investment banking services to Canaccord's retail, institutional andcorporate clients. Canaccord has approximately 1,300 employees worldwide in 28 offices, this includes Investment Advisors located in 25 offices acrossCanada, and international Global Capital Markets professionals based inVancouver, Calgary, Toronto, Montrĩal and London (UK). For further information: Anthony Ostler, Senior Vice President, InvestorRelations & Communications, Phone: (604) 643-7647, Email:anthony_ostler(at)canaccord.com; London: Bobby Morse or Charles Ryland,Buchanan Communications, Phone: +44 (0) 207 466 5000, Email:bobbym(at)buchanan.uk.com (CCI.) ENDCANACCORD CAPITAL INC.Related Shares:
CF..L