Inscape Corporation
TSX : INQ

Inscape Corporation

September 09, 2010 16:30 ET

Inscape Announces Intention to Commence Normal Course Issuer Bid

HOLLAND LANDING, ONTARIO--(Marketwire - Sept. 9, 2010) - Inscape Corporation (TSX:INQ) ("Inscape" or the "Company"), a leading designer, manufacturer and marketer of office systems, storage and architectural wall solutions for commercial office environments, today announced its intention, subject to regulatory approval, to undertake a normal course issuer bid (the "Bid") through the facilities of the Toronto Stock Exchange (the "TSX"), and purchase up to 465,480 of its common shares, representing approximately 5% of its issued and outstanding shares as of September 9, 2010. Inscape believes that the purchase of its common shares at prevailing market prices may be a worthwhile investment and in the best interests of both Inscape and its shareholders.

Purchases of common shares under the Bid will be made at market prices and otherwise in accordance with the rules of the TSX. Purchases may commence on the date that is two trading days after the later of (i) the date of acceptance by the TSX of Inscape's notice of intention in final executed form; and (ii) the date of this press release. Purchases may occur during the 12 month period thereafter, unless terminated on such earlier date as the Company may complete its purchases. All common shares purchased under the Bid will be cancelled. As previously announced by Inscape, on July 9, 2010 Inscape purchased for cancellation 441,317 common shares at a price of $1.88 per share.

To the knowledge of Inscape, no senior officer or director of Inscape, no associate thereof and no person holding 10% or more of the common shares of Inscape currently intends to sell any common shares under the Bid. However, sales through the facilities of the TSX may occur during the period of the Bid where such sales are due to personal or business circumstances of any such person or company unrelated to these normal course purchases. The benefits to any such person or company whose shares are purchased would be the same as the benefits available to other holders whose shares are purchased.

Forward-Looking Statements

Certain of the above statements are forward-looking statements that involve risks and uncertainties. Actual results could differ materially as a result of many factors including, but not limited to the TSX approving the normal course issuer bid.

About Inscape

Inscape Corporation is a leading designer, manufacturer and marketer of office systems, storage and architectural wall solutions for commercial office environments. Headquartered in Holland Landing, Ontario, the company has offices and production facilities in Canada and the United States totalling approximately 438,000 square feet and serves customers through a network of authorized dealers. For more information, please visit www.inscapesolutions.com

Contact Information

  • Inscape Corporation
    Kent Smallwood, CA
    Chief Financial Officer
    905-836-7676
    905-836-5037 (FAX)
    www.inscapesolutions.com