BFS Entertainment & Multimedia Limited

BFS Entertainment & Multimedia Limited

September 20, 2005 11:47 ET

BFS Entertainment & Multimedia Limited Announces Normal Course Issuer Bid

RICHMOND HILL, ONTARIO--(CCNMatthews - Sept. 20, 2005) - BFS Entertainment & Multimedia Limited ("BFS")(TSX VENTURE:BFS) announced today that the TSX Venture Exchange has accepted BFS' notice of intention to make a normal course issuer bid for its common shares through the facilities of the TSX Venture Exchange.

On September 21, 2005, BFS may commence making purchases of up to a maximum of 423,283 common shares, which represents 5.4% of its issued and outstanding common shares and 10% of the 4,232,833 common shares of BFS held by persons other than senior officers, directors and principal shareholders of BFS. Any shares acquired will be purchased at the market price for the common shares at the time of acquisition and will be cancelled. Don Ross of Jones Gable & Company Limited will be the broker conducting the normal course issuer bid on behalf of the Company. The bid will terminate on the earlier of the date determined by BFS and September 20, 2006. BFS currently has 7,898,333 issued and outstanding common shares.

During the period ended August 29, 2005 (i.e. the period of the Company's most recently completed normal course issuer bid), 72,500 common shares were purchased for $11,423 by the Company pursuant to such normal course issuer bid. Since August 29, 2005, the Company has made no further purchases of its common shares.

Proceeding with the normal course issuer bid will give BFS the flexibility to purchase its common shares if it determines that, as a result of the difference between BFS' view of the fundamental value of the common shares and the market price, it is in the best interest of BFS to do so.

BFS Entertainment & Multimedia Limited manufactures, markets and distributes under the BFS Video and American Home Treasures video labels, a wide range of home entertainment DVDs for resale to retail and catalogues throughout North America. The company's strategy is to continue to acquire new programming for North America and to expand its distribution channels.

(SEC Rule 12g exemption #82-4245)

Contact Information

  • BFS Entertainment & Multimedia Limited
    John Grzybowski, MBA, CA
    Chief Financial Officer
    (905) 884-2323
    (905) 884-8292 (FAX)