Wilmington Capital Management Inc.
TSX : WCM

Wilmington Capital Management Inc.

August 23, 2005 08:30 ET

Wilmington Announces Normal Course Issuer Bid

TORONTO, ONTARIO--(CCNMatthews - Aug. 23, 2005) - Wilmington Capital Management (TSX:WCM) announced today that it has received approval from the Toronto Stock Exchange for its proposed normal course issuer bid to purchase up to 533,000 Class A shares, representing approximately 10% of the public float of the company's issued and outstanding Class A shares ("WCM.LV.A"), and up to 50,000 Class B shares ("WCM.B"), representing approximately 5% of its total issued and outstanding Class B shares. As of this date there are 7,108,872 Class A shares and 1,003,144 Class B shares issued and outstanding.

Purchases pursuant to the bid will be made through the facilities of the Exchange. The period of the normal course issuer bid will be from August 25, 2005 to August 24, 2006, or such earlier date as Wilmington may complete its purchases. The prices which the company will pay for any Class A and Class B shares purchased through the facilities of the TSX will be the market price of these shares at the time of acquisition. Any Class A and Class B shares acquired by the company will be cancelled.

Wilmington believes that the repurchase of its Class A and Class B shares can, from time to time, represent an attractive investment opportunity and provide additional liquidity to its shareholders.

Wilmington is a Canadian investment company whose principal objective is to acquire and hold assets which are capable of providing stable cash flows and value creation over the longer term.

Brian D. Lawson, President and Chief Executive Officer will be available at 416-867-9370 to answer any questions on the company's financial results.

This news release contains forward-looking statements concerning the company's business and operations. The company cautions that, by their nature, forward-looking statements involve risk and uncertainty and the company's actual results could differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Information Form for a description of the major risk factors.

Contact Information

  • Wilmington Capital Management Inc.
    Brian D. Lawson
    President and Chief Executive Officer
    (416) 867-9370