TORONTO, June 30 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS, NYSE: MDZ), a leading provider of enabling products and services to the global life sciences markets, announced today that the Toronto Stock Exchange (TSX) accepted the Company's Notice of Intention to make a normal course issuer bid for a one-year period.
The Notice provides that during the twelve months commencing July 3, 2008 and ending July 2, 2009, if deemed appropriate by the Chief Executive Officer and Chief Financial Officer of the Company, MDS may purchase up to 4,136,766 MDS Common shares on the Toronto Stock Exchange and the New York Stock Exchange. This represents approximately 5% of the public float. At June 20, 2008, there were 122,028,330 Common shares issued and outstanding and 82,735,313 Common shares in the public float. All shares purchased by MDS under this normal course issuer bid will be promptly cancelled. Daily purchases will be limited to 130,250 Common shares, other than block purchase exceptions.
Under the Company's previous normal course issuer bid, which began on July 3, 2007 and ends on July 2, 2008, MDS has purchased and cancelled 1,235,300 Common shares to date.
Since all purchases of MDS Common shares under the normal course issuer bid would be made on the open market, the Company is not in a position to know the identity of the parties from whom it may purchase Common shares. The Company believes that the purchase of outstanding Common shares at certain times during the normal course issuer bid period may enhance value for shareholders and is an appropriate use of funds.
This document contains forward-looking statements. Some forward-looking
statements may be identified by words like "expects", "anticipates",
"plans", "intends", "indicates" or similar expressions. The statements are
not a guarantee of future performance and are inherently subject to risks
and uncertainties. The Company's actual results could differ materially
|SOURCE MDS Inc.|
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