Stock Symbol - (BMN-A)
CALGARY, June 25 /CNW/ - BEAUMONT SELECT CORPORATIONS INC. ("Beaumont")
announced that it has filed with the TSX Venture Exchange a Notice of
Intention to Make a Normal Course Issuer Bid which shall commence on
July 2, 2008 and terminate on July 1, 2009 or the earlier of the date all
shares which are subject to the Normal Course Issuer Bid are purchased. This
Normal Course Issuer Bid follows the one Beaumont commenced on July 2, 2007
(and which expires on July 1, 2008) pursuant to which Beaumont purchased
approximately 108,000 Class "A" shares as at June 15, 2008.
In the opinion of the board of directors of Beaumont, the market price of
the Class "A" shares of Beaumont does not accurately reflect the value of
those shares. As a result, Beaumont's Class "A" shares may continue to become
available for purchase at prices which make them an appropriate use of funds
of the company.
Beaumont intends to attempt to acquire up to an aggregate of 841,030 of
its Class "A" shares over the next 12 month period representing 5% of the
issued and outstanding Class "A" shares. There are 16,820,579 Class "A" shares
of Beaumont issued and outstanding.
Purchases subject to this Normal Course Issuer Bid will be carried out
pursuant to open market transactions through the facilities of the TSX Venture
Exchange by Blackmont Capital Inc. on behalf of Beaumont. Once purchased the
Class "A" shares will be returned to treasury for cancellation.
THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE
ADEQUACY OR ACCURACY OF THIS RELEASE
For further information:
For further information: Beaumont Select Corporations Inc., Winston Ho
Fatt, Chief Executive Officer and President, Phone: (403) 250-8757