Guardian Capital Group Limited

Guardian Capital Group Limited

November 12, 2007 13:40 ET

GCG-Notice of Intention to Make a Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - Nov. 12, 2007) - Guardian Capital Group Limited (TSX:GCG)(TSX:GCG.A) announced today that it intends to purchase by means of a Normal Course Issuer Bid, during the period from November 14, 2007 to November 13, 2008, up to 111,900 or 2% of its Common Shares, entitled to one vote per share, and up to 1,355,000 or 4% of its non-voting Class A Shares. These shares will be purchased at market prices, on the Toronto Stock Exchange. There are 5,594,998 Common Shares and 33,874,926 Class A Shares outstanding at November 9, 2007. Guardian intends to purchase the shares for cancellation because it believes that they are good value to Guardian at recent and current prices.

Under Guardian's previous Normal Course Issuer Bid, in effect during the period from October 2, 2006 to October 1, 2007, no Common Shares and 729,300 Class A Shares were purchased for cancellation by Guardian, at an average price of $12.07 per Class A Share. All of these shares were purchased prior to October 1, 2007.

The average daily trading volume for Guardian's shares on the Toronto Stock Exchange during the period of May 1, 2007 to October 31, 2007 was as follows: Common Shares - 285 shares; and Class A Shares - 36,394 shares.

Guardian has filed a Notice of Intention in this regard, with the Toronto Stock Exchange, which Notice has been accepted by the Exchange.

Contact Information

  • Guardian Capital Group Limited
    C. Verner Christensen
    (416) 947-4093
    Guardian Capital Group Limited
    Sam Greiss
    (416) 947-3743