Reko International Group Inc.
TSX : REK

Reko International Group Inc.

July 11, 2007 11:33 ET

Reko International Group to Buy Back up to 357,525 of its Common Shares

WINDSOR, ONTARIO--(Marketwire - July 11, 2007) - Reko International Group Inc. ("Reko")(TSX:REK) announced today of its intention to make a normal course issuer bid for 357,525 of its outstanding common shares subject to approval by the Toronto Stock Exchange.

The notice provides that Reko may, during the 12 month period commencing July 13, 2007 and ending July 12, 2008, purchase on the Toronto Stock Exchange up to a total of 357,525 of its common shares, being approximately 5% of the outstanding common shares. The price that Reko will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by Reko. All purchased shares will be cancelled. During the preceding 12 months, Reko purchased 367,000 shares at an average price of $3.89 per share pursuant to its normal course issuer bid, which expired July 9, 2007. The average daily trading volume in the previously completed 6 months is 977 shares. There are 7,150,492 common shares of Reko currently outstanding as of July 10, 2007.

Reko believes that its common shares have been trading in a price range, which does not reflect their value in relation to Reko's business and its future business prospects. As a result, depending upon future price movements and other factors, Reko believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its available funds.

Michael Dunn

Vice President, Finance

Founded in 1976, Reko International Group (TSX:REK) is a highly integrated, technology driven engineering and manufacturing firm providing engineered solutions for the plastics segment of the automotive, aerospace and consumer product markets. In its ten production facilities in Ontario, Reko designs and manufactures precision moulds, and other related industrial tooling, in addition to its own proprietary line of CNC machining centres.



REKO INTERNATIONAL GROUP INC.
5390 Brendan Lane
Oldcastle, Ontario
N0R 1L0
www.rekointl.com


SUBSIDIARIES:

Canada:
- Reko Tool & Mould (1987) Inc.
Divisions-
- Reko Automation and Machine Tool
- Concorde Machine Tool


United States:
- Reko International Sales Inc.
- Reko International Holdings Inc.

Contact Information

  • Reko International Group Inc.
    Michael Dunn
    Vice President Finance
    (519) 737-6974
    Website: www.rekointl.com