Stock Symbol: TSX - CCL.A and CCL.B
TORONTO, Feb. 28 /CNW/ - CCL Industries Inc., a world leader in specialty
packaging solutions for the consumer products and healthcare industries
announces that it intends to commence a normal course issuer bid to acquire up
to 13,000 of its outstanding Class A Voting Shares and 2,500,000 Class B
Non-Voting Shares, being 10% of the public float of each class of shares.
As at February 20, 2008, CCL had 2,378,443 Class A Shares and 30,501,100
Class B Shares issued and outstanding. All purchases will be made through the
facilities of and in accordance with the rules of the Toronto Stock Exchange
and all shares purchased will be cancelled. Except where reliance is had on
the Exchange's block purchase exemption, the maximum number of Shares
purchasable under the bid on any trading day will be limited to 1,000 Class A
Voting Shares and 16,779 Class B Non-Voting Shares. The average daily trading
volumes for the six-month period ended January 31, 2008 were 85 Class A Voting
Shares and 67,117 Class B Non-Voting Shares.
The normal course issuer bid will commence on March 4, 2008 and end no
later than March 3, 2009. Management of CCL believes that such purchases to be
an appropriate and desirable use of available funds.
Statements contained in this Press Release, other than statements of
historical facts, are forward-looking statements subject to a number of
uncertainties that could cause actual events or results to differ materially
from some statements made.
For further information:
For further information: Steve Lancaster, Executive Vice President,