Solium Capital Inc.
TSX : SUM

Solium Capital Inc.

June 18, 2009 17:09 ET

Solium Capital Inc. Announces Notice of Intention to Make a Normal Course Issuer Bid

CALGARY, ALBERTA--(Marketwire - June 18, 2009) - Solium Capital Inc. ("Solium" or the "Corporation") (TSX:SUM) today announces that a Notice of Intention to make a Normal Course Issuer Bid (the "Bid"), which has been approved by its board of directors, has been filed with and accepted by the Toronto Stock Exchange. Solium is authorized to repurchase for cancellation up to 502,000 common shares in the capital of Solium ("Common Shares"), which is equal to approximately 1.6% of the issued and outstanding Common Shares. Solium has granted Restricted Share Units to certain of its employees pursuant to the terms of its Share Award Incentive Plan. In order not to have a dilutive effect on current shareholders, Solium intends to acquire, through the facilities of the Toronto Stock Exchange, and cancel, the number of Common Shares that is equal to the number of Common Shares being issued to fund the equity awards. As at June 15, 2009, there were 31,073,679 Common Shares issued and outstanding. Pursuant to the rules of the Toronto Stock Exchange, the maximum number of Common Shares that the Corporation may repurchase in any one day is 1,142 Common Shares. Solium may also make one block purchase per calendar week which exceeds the daily repurchase restriction.

The Bid will commence on June 22, 2009 and will terminate on the earlier of: (i) June 21, 2010; and (ii) the date on which the maximum number of Common Shares are purchased pursuant to the Bid. Purchases of Common Shares under the Bid will be effected through the facilities of the Toronto Stock Exchange at the market price at the time of purchase.

Canaccord Capital Corporation ("Canaccord") has been appointed as the broker firm responsible for making purchases of Common Shares under the Bid on behalf of Solium pursuant to an automatic purchase plan agreement dated June 18, 2009 between Solium and Canaccord (the "APP Agreement"). Pursuant to the APP Agreement, the timing for the purchase of Common Shares, the number of Common Shares purchased and the price payable for the Common Shares will be determined by Canaccord in its sole discretion, without consultation with Solium, having regard to the price limitations and other terms of the APP Agreement and the rules of the Toronto Stock Exchange.

The Corporation's board of directors and management believe that the purchase by the Corporation of its outstanding Common Shares pursuant to the Bid constitutes an attractive and appropriate investment of corporate funds.

About Solium Capital Inc.

Solium Capital Inc. (TSX:SUM) specializes in the administration and execution of equity-based incentive and savings plans and is setting the industry standard for service excellence, industry knowledge and innovative technical leadership. Solium's technology platform, Shareworks, is a leading online solution that integrates the management of multiple equity plan types including stock options, share units, and employee share purchase plans on one comprehensive platform.

Contact Information

  • Solium Capital Inc.
    Jeff English
    President and Chief Executive Officer
    (403) 450-6002 or Toll Free: 1-877-380-7793
    Email: investorrelations@solium.com
    or
    Solium Capital Inc.
    Lynn Leong
    Executive VP, Finance & Administration
    (403) 450-6015 or Toll Free: 1-877-380-7793
    Email: investorrelations@solium.com