Logistec Corporation
TSX : LGT.SV.B
TSX : LGT.MV.A

Logistec Corporation

October 17, 2005 12:12 ET

Logistec Corporation Launches a Normal Course Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - Oct. 17, 2005) - LOGISTEC CORPORATION ("Logistec")(TSX:LGT.MV.A)(TSX:LGT.SV.B) announced today that it is launching a normal course issuer bid. Logistec believes that the purchase of its shares makes appropriate and desirable use of its available cash. Therefore, Logistec believes that the offer is in the best interests of Logistec and its shareholders.

The Toronto Stock Exchange (the "Exchange") has accepted a notice filed by Logistec of its intention to make a normal course issuer bid. According to the notice, Logistec intends to purchase, for cancellation, in accordance with the Rules and Policies of the Exchange and in compliance with Quebec Stock Savings Plan requirements, i) up to 195,323 Class A Common Shares ("Class A Shares"), representing 5% of the outstanding Class A Shares and ii) up to 138,374 Class B Subordinate Voting Shares ("Class B Shares"), representing 5% of the outstanding Class B Shares.

The normal course issuer bid will begin on October 20, 2005 and will terminate no later than October 19, 2006. All purchases will be made through the facilities of the Exchange at the discretion of Logistec's management, as and when it will deem the market price of the Class A Shares or of the Class B Shares to be favourable to the reduction of its outstanding share capital. The purchase of and payment for the shares will be made by Logistec in accordance with the Rules and Policies of the Exchange and the price Logistec will pay for any shares will be the market price of such shares at the time of acquisition. As of the close of business on October 14, 2005, there were 3,906,474 Class A Shares and 2,793,187 Class B Shares outstanding.

Contact Information

  • Logistec Corporation
    Jean-Claude Dugas
    Vice-President, Finance
    (514) 844-9381