Guardian Capital Group Limited

Guardian Capital Group Limited

April 09, 2009 12:27 ET

Guardian Capital Group Limited Announces Amendment to Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwire - April 9, 2009) - Guardian Capital Group Limited ("Guardian") (TSX:GCG)(TSX:GCG.A) announced today an increase to the number of non-voting Class A Shares that it intends to purchase by means of its current Normal Course Issuer Bid. Guardian intends to purchase, during the period from November 14, 2008 to November 13, 2009, up to 111,900 or 2% of its Common Shares, entitled to one vote per share, and up to 2,818,537 or 10% of the public float of its non-voting Class A Shares. These shares will be purchased at market prices, on the Toronto Stock Exchange. There were 5,594,998 Common Shares and 32,859,626 Class A Shares outstanding at November 6, 2008. Guardian intends to purchase the shares for cancellation because it believes that they are good value to Guardian at recent and current prices.

To date, under its Normal Course Issuer Bid in effect since November 14, 2008, Guardian has purchased for cancellation no Common Shares and 2,087,507 Class A Shares, at an average price of $3.98 per Class A Share.

The average daily trading volume for Guardian's shares on the Toronto Stock Exchange during the period of May 1, 2008 to October 31, 2008, excluding purchases made by Guardian under its previous Normal Course Issuer Bid during the same period, was as follows: Common Shares - 693 shares; and Class A Shares - 40,421 shares. Except as otherwise permitted by the Toronto Stock Exchange, the maximum aggregate daily purchase under the bid will be 1,000 Common Shares and 10,105 Class A Shares.

Guardian has filed an Amended Notice of Intention to Make a Normal Course Issuer Bid 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