Reko International Group Inc.

Reko International Group Inc.

July 04, 2005 11:38 ET

Reko International Group to Buy Back up to 383,755 of its Common Shares

WINDSOR, ONTARIO--(CCNMatthews - July 4, 2005) - Reko International Group Inc. ("Reko") (TSX:REK) announced today of its intention to make a normal course issuer bid for 383,755 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 8, 2005 and ending July 7, 2006, purchase on the Toronto Stock Exchange up to a total of 383,755 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 161,300 shares at an average price of $2.72 per share pursuant to its normal course issuer bid, which expires July 7, 2005. There are approximately 7,675,101 common shares of Reko currently outstanding as of the date hereof.

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.

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

5390 Brendan Lane
Oldcastle, Ontario
N0R 1L0

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Contact Information

  • Reko International Group Inc.
    Michael Dunn
    Vice President Finance
    (519) 737-6974