International Forest Products Limited
TSX : IFP.SV.A

International Forest Products Limited

November 07, 2005 15:10 ET

Interfor Receives Regulatory Approval for Normal Course Issuer Bid

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 7, 2005) - International Forest Products Limited (TSX:IFP.SV.A) has been informed that Toronto Stock Exchange has accepted its notice to make a normal course issuer bid for its Class A Subordinate Voting Shares. The Company believes that current market conditions provide opportunities for Interfor to acquire shares at attractive prices and that the purchases will enhance shareholder value.

The share buy-back program entitles Interfor to purchase up to 2,384,000 Class A Subordinate Voting Shares through the facilities of the Exchange, representing 5% of its 47,688,576 outstanding Class A Subordinate Voting Shares and 5.9% of its public float, currently comprised of 40,415,073 Class A Subordinate Voting Shares. Any Class A Subordinate Voting Shares purchased by Interfor will be cancelled. The program will commence on November 9, 2005 and will terminate on the earlier of the date on which it has acquired 2,384,000 Class A Subordinate Voting Shares and November 8, 2006.

Contact Information

  • International Forest Products Limited
    Gerry Friesen
    Vice-President and Corporate Secretary
    (604) 689-6804
    www.interfor.com