(all figures in Canadian dollars, unless otherwise indicated)
MONTREAL, March 15 /CNW Telbec/ - Addenda Capital Inc. ("Addenda")
(TSX:ADV) today announced that its Board of Directors has authorized a normal
course issuer bid to buyback up to 10% of its public float of 9,833,259 common
shares as at March 13, 2007. Addenda has received approval from the Toronto
Stock Exchange for its normal course issuer bid.
According to this program, Addenda may, during a period of 12 months
commencing March 20, 2007 and ending March 19, 2008 (or at an earlier date if
Addenda completes its purchases or elects to terminate the bid), purchase
through the facilities of the Toronto Stock Exchange up to 983,325 common
shares in total.
Addenda will pay the market price for the shares at the time of
acquisition. The actual number of common shares which may be purchased and the
timing of any such purchases will be determined by Addenda. The common shares
acquired pursuant to the normal course issuer bid will be cancelled.
There were 11,788,426 common shares of Addenda issued and outstanding as
at March 13, 2007, of which 83% were widely held. Addenda has not purchased
any of its securities over the past 12 months.
Addenda believes that the normal course issuer bid program represents an
appropriate use of its funds, being established to enhance shareholder value.
Addenda is an investment management firm specializing in the active
management of fixed-income portfolios, primarily for institutional clients. As
at December 31, 2006 Addenda had assets under management of approximately
For further information:
For further information: Myriam Larcher, Senior Vice-President, Risk
Management and Chief Financial Officer, (514) 287-7373,