23rd Dec 2005 13:55
Canaccord Capital Inc. to renew normal course issuer bid VANCOUVER, Dec. 23 /CNW/ - Canaccord Capital Inc. (CCI: TSX) todayannounced the renewal of its normal course issuer bid, subject to regulatoryapproval, to purchase up to 2,324,233 of its common shares through thefacilities of the Toronto Stock Exchange. The purchase of common shares under the normal course issuer bid willenable the firm to acquire shares for cancellation and for resale to newemployees, existing employees, and clients of Canaccord and Canaccordaffiliates. The shares that may be repurchased represent 5.0% of the company'soutstanding common shares. As of December 20, 2005, there were 46,484,654common shares of the company issued and outstanding. For the one year periodfrom December 22, 2004, the Company and Canaccord Capital Corporation, awholly owned subsidiary of the Issuer, purchased 460,983 Common shares throughthe facilities of the Toronto Stock Exchange in the normal course issuer bidannounced on December 22, 2004, at an average price of $10.96 per share and307,765 Common shares in exempt offers to former employees at an average priceof $6.76 per share. Purchases under the normal course issuer bid are expected to commence onDecember 29, 2005, and will continue for one year (to December 28, 2006). Theamount and timing of any such purchases will be determined by Canaccord. Allpurchases will be subject to the company's normal trading blackouts and theavailability of shares for purchase. To fulfill its regulatory reportingrequirements, when actively repurchasing shares for cancellation, Canaccordwill issue a press release with an updated report on the shares repurchased ata minimum of every two weeks and will immediately issue a press release ifmore than 1% of its issued and outstanding common shares are repurchased forcancellation on any one day. ABOUT CANACCORD CAPITAL INC.: Through its principal subsidiaries, Canaccord Capital Inc. (CCI) is aleading independent full service investment dealer in Canada and the UnitedKingdom and is publicly traded on both the Toronto Stock Exchange and theAlternative Investment Market (AIM), a market operated by the London StockExchange. Canaccord has operations in two of the principal segments of thesecurities industry: Private Client Services and Global Capital Markets.Together, these operations offer a wide range of complementary investmentproducts, brokerage services and investment banking services to Canaccord'sretail, institutional and corporate clients. Canaccord has approximately1,275 employees worldwide in 28 offices, including Investment Advisors locatedin 25 offices across Canada, and international Global Capital Marketsprofessionals based in Vancouver, Calgary, Toronto, Montrĩal and London (UK). For further information: Anthony Ostler, Senior Vice President,Investor Relations & Communications, (604) 643-7647,[email protected]; London: Bobby Morse, Charles Ryland, BuchananCommunications, Phone: +44 (0) 207 466 5000, Email: [email protected] (CCI) ENDCANACCORD CAPITAL INC.Related Shares:
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