DARTMOUTH, NS, Feb. 11 /CNW/ - Newfoundland Capital Corporation Limited
announced today that the Company has purchased, through the facilities
of the Toronto Stock Exchange for cancellation, 1,388,072 Class A
Subordinate Voting Shares for a total purchase price of approximately
$8.8 million. The shares are being acquired under the Normal Course
Issuer Bid and this transaction qualifies for the block purchase
exception under the TSX rules.
The Directors and Senior Management of the Company are of the opinion
that from time to time the purchase of its shares would be a worthwhile
investment and in the best interests of the Company and its
About Newfoundland Capital Corporation Limited
Newfoundland Capital Corporation Limited (TSX: NCC.A, NCC.B) is one of
Canada's leading radio broadcasters with 81 licences across Canada.
The Company reaches millions of listeners each week through a variety
of formats and is a recognized industry leader in radio programming,
sales and networking.
SOURCE NEWFOUNDLAND CAPITAL CORPORATION LIMITED
For further information:
REF: Scott G.M. Weatherby, Chief Financial Officer and Corporate Secretary, Newfoundland Capital Corporation Limited, 745 Windmill Road, Dartmouth, Nova Scotia B3B 1C2, Tel: (902) 468-7557, Fax: (902) 468-7558, e-mail: email@example.com, Web:www.ncc.ca/