Logibec Groupe Informatique Ltd.

Logibec Groupe Informatique Ltd.

February 17, 2010 08:50 ET

Logibec Announces the Renewal of its Normal Course Issuer Bid

MONTREAL, QUEBEC--(Marketwire - Feb. 17, 2010) - Logibec Groupe Informatique Ltd. (TSX:LGI) announces the renewal of its normal course issuer bid. Subject to approval by Toronto Stock Exchange, Logibec will then be entitled to repurchase for cancellation up to a maximum of 456,088 common shares over the twelve-month period starting February 19, 2010 and ending February 18, 2011, representing 5% of the issued and outstanding common shares. The purchases by Logibec will be conducted through the facilities of 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 February 17, 2010, there were 9,121,769 common shares issued and outstanding. Logibec considers that the repurchase of shares at certain market prices will be beneficial to Logibec and its shareholders.

During the most recently completed six calendar months, the average daily trading volume for the common shares of Logibec was 2,648 common shares. Consequently, under the rules and policies of Toronto Stock Exchange, Logibec has the right to repurchase during the same trading day a maximum of 1 000 common shares. Moreover, Logibec may make once per calendar week and in addition to the 1 000 common shares daily repurchase limit, one block (as such term is defined in the Toronto Stock Exchange Company Manual) purchase of common shares not directly or indirectly owned by insiders of Logibec in accordance with the rules and policies of Toronto Stock Exchange.

During its normal course issuer bid which expired on February 12, 2010, Logibec repurchased an aggregate of 322,014 common shares at a weighted average price of $17.97.


Logibec is among the fastest-growing North American companies specializing in information systems for the health and social services sector. In Canada, Logibec services the full spectrum of healthcare facilities, from acute care hospitals to community care centers, including healthcare authorities, with a strong market presence in Québec. Logibec's wholly-owned subsidiary, MDI Achieve, is a leader in the U.S. eldercare market with a customer base of over 7,000 facilities and communities. An experienced team of approximately 430 professionals allows Logibec to distinguish itself in these markets. The company has its head office in Montreal as well as offices in Quebec City, Edmonton, St. Louis, Minneapolis and Dallas.

Contact Information

  • Logibec Groupe Informatique Ltd.
    Claude Roy
    President and Chief Executive Officer
    Logibec Groupe Informatique Ltd.
    Marc P. Brunet
    Chief Financial Officer