Premium Brands Holdings Corporation Announces Intention to Make Normal Course Issuer Bid
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/21/13 -- Premium Brands Holdings Corporation (the "Corporation") (TSX: PBH) announced today acceptance by the Toronto Stock Exchange (the "TSX") of its Notice of Intention to Make a Normal Course Issuer Bid through the facilities of the TSX and other Canadian trading platforms.
The Corporation is proposing to purchase, for cancellation, up to 5% of its issued and outstanding Common Shares, and up to 10% of the public float of each of its issued and outstanding Convertible Debentures, namely:
for a period commencing August 23rd, 2013 to August 22nd, 2014 (the "Purchase Period").
As at the close of business on August 2nd, 2013 the total number of issued and outstanding securities of the Corporation was:
The maximum number of each class of securities that the Corporation may purchase pursuant to the Issuer Bid in any single day (unless other exemptions are available) is as follows:
The Corporation has in place a Normal Course Issuer Bid respecting each of the above-named securities, which was filed with The Toronto Stock Exchange on August 13, 2012 and which expired on August 14, 2013. The Corporation purchased $810,000 7% Convertible Debentures under and pursuant to the terms of such Normal Course Issuer Bid. No purchases of any other of the above-named securities have been made by the Corporation pursuant to such Normal Course Issuer Bid.
The Corporation is proceeding with this Issuer Bid because its board of directors believes that, from time to time, the market price of the Corporation's securities may not adequately reflect the current value of, or prospects for, the Corporation's business. Accordingly, the Corporation's board of directors believes that the Corporation's securities may, at such times, represent an attractive opportunity to realize additional securityholder value, and that the purchase of such securities at such times would be an appropriate use of the Corporation's available funds.
The Corporation may commence purchases of its securities on August 23rd, 2013, at times and in quantities determined by it. All purchases will be made on the open market through the facilities of the TSX, and other Canadian trading platforms, in accordance with their policies. The price to be paid by the Corporation for its securities will be the market price at the time of acquisition.
Premium Brands owns a broad range of leading specialty food manufacturing and differentiated food distribution businesses with operations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Nevada and Washington State. The Company services over 22,000 customers and its family of brands and businesses include Grimm's, Harvest, McSweeney's, Bread Garden Go, Hygaard, Hempler's, Quality Fast Foods, Gloria's The Best of Fresh, Direct Plus, National Direct-to-Store Distribution (NDSD), Harlan Fairbanks, Creekside Bakehouse, Centennial FoodService, B&C Food Distribution, Stuyver's Bakestudio, Shahir, Duso's, Maximum Seafood, SK Food Group, OvenPride, Hub City Fisheries, Audrey's, Deli Chef, Piller's, and Freybe Gourmet Foods.
Contacts:
Premium Brands Holdings Corporation
George Paleologou
President and CEO
(604) 656-3100
Premium Brands Holdings Corporation
Will Kalutycz
CFO
(604) 656-3100
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Datum: 21.08.2013 - 05:00 Uhr
Sprache: Deutsch
News-ID 1256590
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Food
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