Logibec Groupe Informatique Ltd.
TSX : LGI

Logibec Groupe Informatique Ltd.

January 29, 2007 16:35 ET

Logibec Announces Normal Course Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - Jan. 29, 2007) - Logibec Groupe Informatique Ltd. (TSX:LGI) announces that the Toronto Stock Exchange has approved its normal course issuer bid. Under the normal course issuer bid, Logibec will be entitled to repurchase for cancellation up to a maximum of 446,585 Common Shares over the twelve-month period starting February 13, 2007 and ending February 12, 2008, representing 5% of the issued and outstanding Common Shares. The purchases by Logibec will be conducted through the facilities of the Toronto Stock Exchange. The purchase price for shares repurchased under the normal course issuer bid shall be the market price at the time of purchase. As at January 29, 2007, there were 8,931,724 Common Shares issued and outstanding. The normal course issuer bid has been instituted in that Logibec considers that the repurchase of shares at certain market prices will be beneficial to Logibec.

During the normal course issuer bid of Logibec which ended on December 19, 2006, Logibec repurchased an aggregate of 160,600 Common Shares at an average price of $14.48.

ABOUT LOGIBEC

Logibec is among the ten largest Canadian companies specializing in the development, marketing, implementation and support of information systems for the health and social services sector. Logibec serves over 200 clients throughout Quebec and the rest of Canada. Since completing its acquisition of MDI Technologies, Inc. ("MDI"), in June 2005, and Monette Information Systems Corporation ("Monette"), in March 2006, Logibec also serves over 750 clients representing approximately 1,800 facilities throughout the United States. Logibec's services are delivered by an experienced team of approximately 250 employees as at September 30, 2006. The Company has its head office in Montreal as well as offices in Quebec City, Edmonton, Alberta, St. Louis, Missouri, and Smithfield, Virginia.

This news release contains forward-looking statements reflecting Logibec Groupe Informatique Ltd. objectives, estimates and expectations. Such statements may be marked by the use of verbs such as "believe", "anticipate", "estimate" and "expect" as well as the use of the future or conditional tense. By their very nature, such statements involve risks and uncertainty. Actual results may differ significantly from the Company's forecasts or expectations.

The TSX accepts no responsibility for the truth or accuracy of this press release.

Contact Information

  • Logibec Groupe Informatique Ltd.
    Claude Roy
    President and Chief Executive Officer
    514-766-0134
    or
    Logibec Groupe Informatique Ltd.
    Marc P. Brunet
    Chief Financial Officer
    514-762-3833
    514-766-9237 (FAX)
    www.logibec.com