ClubLink Corporation

ClubLink Corporation

January 27, 2006 12:39 ET

ClubLink Announces Normal Course Issuer Bid For Common Shares

KING CITY, ONTARIO--(CCNMatthews - Jan. 27, 2006) - ClubLink Corporation ("ClubLink") (TSX:LNK) announced today acceptance by the Toronto Stock Exchange (the "TSX") of ClubLink's Notice of Intention to renew its Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, ClubLink proposes to purchase, from time to time, if it is considered advisable, up to 851,700 Common Shares of ClubLink, being approximately 5% of its 17,035,807 issued and outstanding Common Shares as of the date hereof, on the TSX commencing January 31, 2006. The Board of Directors of ClubLink believes that such purchases are in the best interests of ClubLink and are a desirable use of corporate funds. All purchases will be made through the facilities, and in accordance with the rules and policies, of the TSX. All Common Shares purchased by ClubLink pursuant to the NCIB will be cancelled. The NCIB will expire on January 30, 2007.

In January 2005, ClubLink announced a similar normal course issuer bid with respect to the Common Shares. Under that bid, which expired on January 26, 2006, an aggregate of 189,982 Common Shares were repurchased and cancelled at an average price of $9.29 per share excluding commissions.

On October 6, 2005, ClubLink announced a normal course issuer bid, expiring on October 10, 2006 to purchase up to $7,138,000 principal amount of its outstanding 6% convertible unsecured subordinated debentures. As of January 27, 2006, ClubLink has repurchased for cancellation $92,000 principal amount of its debentures for an aggregate purchase price of $91,080, excluding commissions. ClubLink has $75,092,000 principal amount of its debentures outstanding as of January 27, 2006.

ClubLink is Canada's largest owner and operator and developer of golf clubs.

Contact Information

  • ClubLink Corporation
    Mr. Robert Visentin
    Chief Financial Officer
    (905) 841-5360
    ClubLink Corporation
    15675 Dufferin Street
    King City, Ontario L7B 1K5
    (905) 841-3730
    (905) 841-9055 (FAX)