Senvest Capital Inc.

Senvest Capital Inc.

June 06, 2005 10:39 ET

Senvest Capital Announces its Intention to Make a Normal Course Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - June 6, 2005) - The Notice of Intention to Make a Normal Course Issuer Bid, originally filed by Senvest Capital Inc. (TSX:SEC) on June 8, 2004, expires on June 10, 2005. As at May 31, 2005, there were 2,578,124 common shares issued and outstanding and the Corporation had purchased for cancellation 20,100 common shares pursuant to said Normal Course Issuer Bid at an average price of $17.12 per common share.

The Corporation is pleased to announce that it has filed a notice of its intention to commence another normal course issuer bid through the facilities of the Toronto Stock Exchange. Pursuant to this normal course issuer bid, which will take effect on June 13, 2005 and expire no later than June 12, 2006, the Corporation intends to purchase for cancellation up to a maximum of 131,000 common shares, being approximately 10% of the Corporation's public float of 1,313,678 common shares. The Corporation wishes to take advantage of the market trading prices of its common shares from time to time. It is the opinion of management that, from time to time, the market price of the shares does not adequately reflect the value of the underlying assets of the Corporation.

Contact Information

  • Senvest Capital Inc.
    Mr. George Malikotsis
    Vice-President, Finance
    (514) 281-8082