Algo announces issuance of management cease trade order due to delay in filing its financial statements



    MONTREAL, April 13 /CNW Telbec/ - Algo Group Inc.(TSX : AO) previously
announced that the audit of its consolidated financial statements would not be
completed by March 31, 2007, and that, as such, Algo would not be in a
position to file its audited consolidated financial statements, related audit
report and MD&A for the year ended December 31, 2006 by the March 31, 2007
filing deadline applicable to reporting issuers in Canada.
    In accordance with applicable securities legislation, Algo notified the
Canadian securities authorities of the late filing of its annual financial
information. Algo requested that any resulting cease trade order due to the
late filings be limited to certain members of its management and to insiders
of Algo. On April 3, 2007, as per Algo's request, a management cease-trade
order prohibiting Marc Kakon, Dan Elituv, Raymond Gagnon, Jeffrey Mandel, Ken
Labelle, Sol Chankowsky, Stephen Silverstein, Warren Green, Max Azria, Max
Azria Finance Inc., Trimera Group Inc. and 143956 Canada Inc. from directly or
indirectly trading in securities of Algo or otherwise dealing in securities of
Algo was issued by the Autorité des marchés financiers (Québec).
    Additionally, if Algo fails to file its audited consolidated financial
statements, related audit report and MD&A for the year ended December 31, 2006
by May 31, 2007, the above-mentioned cease trade order can be expected to be
extended to all holders of Algo's securities. Algo currently expects that its
auditors will complete the audit in time for Algo to file such documents prior
to May 31, 2007. Algo will announce any changes in this timeline as the audit
progresses.

    ALGO GROUP PROFILE
    ------------------

    Algo Group is a leading Canadian manufacturer and importer of ladies'
fashion apparel, as well as men's, boy's and children's sportswear that is
marketed throughout North America. The Company also imports home furnishing
products that it markets to retailers in North America, and holds licenses to
sell various brand products such as Rodier, Ted Lapidus, Votre Nom and Levi's
Home in Canada and the United States.
    Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of
future events. Such factors may include, without excluding other
considerations, fluctuations in quarterly results, evolution in customer
demand for the Company's products and services, the impact of price pressures
exerted by competitors, and general market trends or economic changes. As a
result, readers are advised that actual results may differ from expected
results.




For further information:

For further information: Ken Labelle, C.A., Chief Financial Officer,
Algo Group Inc., (514) 908-7804; Investor relations: Rick Leckner, Maison
Brison, (514) 731-0000

Organization Profile

ALGO GROUP INC.

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