Rogers Sugar Inc.
TSX : RSI

Rogers Sugar Inc.

September 28, 2011 17:01 ET

Rogers Sugar Inc. Announces Automatic Repurchase Plan

MONTRÉAL, CANADA--(Marketwire - Sept. 28, 2011) - THIS MEDIA RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Rogers Sugar Inc. (the "Issuer") (TSX:RSI) announced today that it has entered into an automatic repurchase plan with a broker in order to facilitate repurchases of its shares (the "Shares"), Third Series 5.90% Convertible Unsecured Subordinated Debentures (the "Third Series Debentures") and Fourth Series 5.70% Convertible Unsecured Subordinated Debentures (the "Fourth Series Debentures" and, together with the Third Series Debentures, collectively, the "Debentures") under its normal course issuer bid for such securities previously announced and approved by the Toronto Stock Exchange ("TSX"). The Issuer has filed with TSX an amended Notice to provide for the implementation of the automatic repurchase plan. The normal course issuer bid in respect of the Shares and Debentures commenced on December 21, 2010 and continues to December 20, 2011.

Under the Issuer's automatic repurchase plan, the Issuer's broker may repurchase Shares or Debentures under the normal course issuer bid at any time including, without limitation, when the Issuer would ordinarily not be permitted to due to regulatory restrictions or self-imposed blackout periods. Purchases will be made by the Issuer's broker based upon the parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties' written agreement. The Issuer may suspend or terminate the automatic repurchase plan only if it does not have material non-public information and the decision to suspend or terminate the automatic repurchase plan is not taken during a self-imposed trading blackout period. The automatic repurchase plan constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and has been precleared by the TSX. The automatic repurchase plan will be implemented effective as of October 1, 2011.

About Rogers Sugar Inc.

The Issuer is a corporation established under the laws of Canada. The Issuer holds all of the common shares of Lantic Inc. Lantic Inc. operates cane sugar refineries in Montréal, Québec and Vancouver, British Columbia, as well as the only Canadian sugar beet processing facility in Taber, Alberta. Lantic Inc.'s sugar products are marketed under the "Lantic" trademark in Eastern Canada, and the "Rogers" trademark in Western Canada, and include granulated, icing, cube, yellow and brown sugars, liquid sugars and specialty syrups.

Contact Information

  • Lantic Inc.
    Mr. Daniel L. Lafrance
    Senior Vice-President and CFO
    514-940-4350
    www.lantic.ca