TORONTO, Aug. 25 /CNW/ - Cyberplex Inc. (TSX: CX) ("Cyberplex" or the
"Corporation") announced today that it has filed with the Toronto Stock
Exchange ("TSX"), and the TSX has accepted, a notice of intention to make a
normal course issuer bid. Under its normal course issuer bid, Cyberplex may
purchase up to 3,483,178 of its common shares, representing approximately 10%
of the "public float" of common shares. As of August 15, 2008, Cyberplex had
52,642,210 common shares issued and outstanding, with a public float of
34,831,787 common shares. Cyberplex will cancel any common shares purchased
pursuant to the normal course issuer bid. The purchases may commence on August
28, 2008 and will terminate on August 27, 2009 or on such earlier date if
required. Purchases will be made on the open market by Cyberplex through the
facilities of the TSX in accordance with TSX requirements. The prices that
Cyberplex will pay for any purchased common shares will be the market price of
such shares at the time of acquisition. The Corporation will make no purchases
of common shares other than open market purchases. Daily repurchases by
Cyberplex will be limited to 20,093 common shares, other than block purchase
exceptions, based on average daily trading volumes. The Corporation has not
purchased any of its common shares during the preceding 12 months pursuant to
a normal course issuer bid.
The Corporation believes that from time to time the common shares of the
Corporation have been trading at prices that do not reflect the underlying
value of the Corporation. As a result, Cyberplex believes that its common
shares are a good investment at its current and recent prices.
Cyberplex Inc. (www.cyberplex.com) is a leader in providing web
advertising solutions, online customer acquisition strategies and technology
development. The Company, through its subsidiaries, leverages its proprietary
affiliate network, robust advertising relationships and experience, and
technology design, development and solutions specialists to develop and
implement web-based programs and solutions that deliver results.
With over 14 years of experience serving Fortune 1000 clients including
FTD, Xerox, Sony Canada, IAC, Atlantic Lottery Corporation, Vista Print,
Aecon, Ontario Power Generation, Scotia Bank and the Royal Bank of Canada,
Cyberplex is frequently the firm of choice for business leaders looking for
effective and reliable online solutions. Cyberplex serves clients across
Canada and the US, and is headquartered in Toronto, Canada with offices in San
Diego and Halifax.
This news release may contain forward-looking statements that are based
on management's current expectations and are subject to known and unknown
uncertainties and risks, which could cause actual results to differ materially
from those contemplated or implied by such forward-looking statements.
Cyberplex is under no obligation to update any forward-looking statements
contained herein should material facts change due to new information, future
events or otherwise.
For further information:
For further information: Susie Ibbotson, Manager, Marketing &
Communication, Cyberplex Inc., (416) 260-4763, 1-888-597-8889 ext.4763,