TORONTO, June 2 /CNW/ - Jaguar Financial Corporation ("Jaguar") (TSX:
JFC) today announced that, pursuant to a normal course issuer bid, it intends
to purchase a maximum of 7,918,184 of its common shares, being approximately
10% of the public float. Jaguar currently has 107,562,832 common shares issued
and outstanding. Purchases may commence on June 5, 2009, and will terminate no
later than June 4, 2010.
Purchases of the common shares will be effected through the facilities of
the Toronto Stock Exchange. The purchase and payment for the common shares
purchased will be made by Jaguar in accordance with the requirements of the
Toronto Stock Exchange and the price which Jaguar will pay for any such common
shares will be the market price of such common shares at the time of
acquisition. Common shares purchased pursuant to the bid will be cancelled.
The average daily trading volume of Jaguar's common shares for the six
months ended June 1, 2009, was 77,405. Unless otherwise permitted by the
Toronto Stock Exchange, Jaguar will not purchase in any trading day more than
19,351 common shares, being the greater of (i) 25% of the average daily
trading volume of the common shares or (ii) 1,000 common shares.
Jaguar will make no purchases of common shares other than open market
Jaguar believes that, at certain times, the market price of its common
shares may not adequately reflect the value of its business and its future
business prospects. As a result, Jaguar believes that its outstanding common
shares may, at such times, represent an attractive investment and an
appropriate and desirable use of its available funds.
No director or senior officer of Jaguar intends to sell common shares of
Jaguar during the period of this Notice. To the knowledge of Jaguar, no
associate of a director or senior officer of Jaguar, and no person acting
jointly or in concert with Jaguar and no person holding ten (10%) percent or
more of any class of equity securities of Jaguar intends to sell common shares
of Jaguar during the period of this Notice.
About Jaguar Financial Corporation
Jaguar is a Canadian merchant bank that invests in undervalued small and
mid-cap companies in a variety of industry sectors.
The Toronto Stock Exchange does not accept responsibility for the
adequacy or accuracy of this news release. This news release may contain
certain forward looking statements which involve known and unknown risks,
delays, and uncertainties not under Jaguar's control which may cause actual
results, performances or achievements of Jaguar to be materially different
from those implied by such forward looking statements.
For further information:
For further information: Vic Alboini, Chairman & Chief Executive
Officer, (416) 644-8110; or Kyler Wells, General Counsel & Corporate
Secretary, (416) 644-8177