TORONTO, Dec. 12, 2013 /CNW/ - NexJ Systems Inc. (TSX: NXJ), a provider of cloud-based software delivering enterprise
solutions for the financial services, insurance,
and healthcare industries, today announced acceptance by the Toronto
Stock Exchange (the "TSX") of NexJ's Notice of Intention to Make a
Normal Course Issuer Bid ("NCIB").
Pursuant to the NCIB, NexJ proposes to purchase through all available
markets and/or alternative trading systems, including the facilities of
the TSX, from time to time over the next 12 months, if considered
advisable, up to an aggregate of 1,000,000 common shares, being
approximately 4.7% of its common shares, as of December 10, 2013.
Purchases may commence on December 16, 2013 and will conclude on the
earlier of the date on which purchases under the bid have been
completed and December 15, 2014. Based on NexJ's average daily trading
volume from June 1 to November 30, 2013 of 57,358 trades, NexJ may only
purchase up to 14,339 common shares per day pursuant to the NCIB. GMP
Securities L.P. will be appointed as the broker firm responsible for
making purchases of common shares under the NCIB on behalf of NexJ,
having regard to the rules of the TSX.
The Board of Directors of NexJ believes that the proposed purchases are
in the best interests of NexJ and are a desirable use of corporate
funds. All common shares purchased by NexJ will be cancelled.
As of December 10, 2013, NexJ had 21,328,285 issued and outstanding
About NexJ Systems Inc.
NexJ is a provider of cloud-based software, delivering enterprise
solutions for the financial services, insurance and healthcare industries. Our next-generation, people-centered software combines
industry-specific functionality with information from multiple
applications and data stores to provide comprehensive knowledge of the
NexJ is named as Canada's fastest growing company in the 24th Annual
PROFIT 200 ranking by PROFIT Magazine, and ranks in the top 5 of the
Deloitte Technology Fast 50™ for the third consecutive year. Based in
Toronto, NexJ has clients throughout North America and in Europe. For
more information about NexJ, visit www.nexj.com, e-mail email@example.com, or call 416-222-5611. Join us on LinkedIn, follow us on Twitter, subscribe to our YouTube channel, like us on Facebook or hang out with us on Google+.
NexJ Forward-looking Statement
Certain statements in this press release may contain words considered
forward-looking statements or information under applicable securities
laws. These statements are based on NexJ's current expectations,
estimates, forecasts and projections about the operating environment,
economies and markets in which the company operates. These statements
are subject to important assumptions, risks and uncertainties that are
difficult to predict, and the actual outcome may be materially
different. NexJ's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be inaccurate
and consequently its actual results could differ materially from the
expectations set out herein. For additional information with respect to
risks and other factors which could occur, see NexJ's securities
filings with the OSC and other securities regulators. NexJ securities
filings are available on www.sedar.com. Unless otherwise required by applicable securities laws, NexJ
disclaims any intention or obligations to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE: NexJ Systems Inc.
For further information:
Director, Corporate Communications
NexJ Systems Inc.