TVA Group Inc.

TVA Group Inc.

August 02, 2005 11:05 ET

TVA Group Inc.: Notice of Intention to Make a Normal Course Issuer Bid

MONTREAL, QUEBEC--(CCNMatthews - Aug. 2, 2005) - The Board of Directors of TVA (TSX:TVA.NV.B) Group Inc. (the "Company"), has authorized a normal course issuer bid for a maximum of 1,137,722 Class B non-voting shares without par value (the "Class B Shares") representing approximately 5% of the issued and outstanding Class B Shares.

The purchases will be made from August 4, 2005 to August 3, 2006, at prevailing market prices, on the open market through the facilities of the Toronto Stock Exchange, which already gave its approval, and will be made in accordance with the requirements of said Exchange. All shares purchased will be cancelled. As of July 25, 2005, 22,754,448 Class B Shares were issued and outstanding.

The Company believes that the repurchase of these shares, pursuant to this normal course issuer bid, is in the best interest of the Company and its shareholders.

Between June 3, 2004 and June 2, 2005, the Company has purchased 1,259,400 outstanding Class B Shares pursuant to its normal course issuer bid then in effect, at an average price of $20.22. In addition, a total of 3,449,199 Class B Shares were repurchased at a price of $22.00 per share pursuant to its substantial issuer bid that expired on June 29, 2005.

Shareholders may obtain a copy of the Notice filed with the Toronto Stock Exchange, without charge, by contacting the Secretary's office of the Company at (514) 380-1963.

Contact Information

  • TVA Group Inc.
    Paul Buron
    Senior Vice-President and Chief Financial Officer
    (514) 598-2808