QUEBEC CITY, Nov. 10 /PRNewswire-FirstCall/ - Atrium Innovations Inc. (TSX: ATB) announced today that it has filed with the Toronto Stock Exchange ("TSX"), and the TSX has accepted, a Notice of Intention to make a Normal Course Issuer Bid. Under its normal course issuer bid, Atrium intends to purchase up to 1,639,617 of its common shares, representing approximately 5% of the 32,792,340 common shares issued and outstanding as of October 31, 2010. The average daily trading volume for the 6-month period preceding October 31, 2010 represents 83,018 common shares. In accordance with the TSX requirements, a maximum daily purchase of the greater of 25% of this average or 1,000 shares may be made, which represents a total of 20,754 common shares.
Purchases will be made on the open market by Atrium through the facilities of the TSX. The purchases may commence on November 15, 2010 and will terminate on November 14, 2011, or on such earlier date as Atrium will have completed its purchases pursuant to the Notice of Intention to make a Normal Course Issuer Bid filed with the TSX. Atrium will cancel any common shares purchased pursuant to the normal course issuer bid. Atrium will pay the market price of common shares on the TSX at the time of purchase and no purchases of common shares will be made other than open-market purchases.
The Company considers that repurchasing common shares is a sound business and financial decision as shares in circulation will be reduced and the proportionate interest of all remaining shareholders in the share capital of the Company will be increased on a pro rata basis.
No appraisal or valuation regarding the Company, its material assets or securities was prepared within the two years preceding the date of the Notice of Intention to make a Normal Course Issuer Bid.
Atrium Innovations Inc. is a globally recognized leader in the innovation, formulation, production and commercialization of science-based
|SOURCE ATRIUM INNOVATIONS INC.|
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