TORONTO, June 29 /CNW/ - Pareto Corporation (TSX: PTO) today announced
that its Board of Directors has approved the renewal of a normal course issuer
bid under which Pareto may acquire up to 2.235 million of its common shares
over the next year. The bid is subject to the receipt of approval from the
Toronto Stock Exchange (TSX), and purchases may commence shortly after such
approval is obtained. All purchases will be made through the facilities of the
TSX in accordance with regulatory requirements. Pareto will cancel any common
shares purchased under the normal course issuer bid.
Pareto intends that up to 1.55 million of the 2.235 million shares may be
repurchased under a discretionary securities purchase plan established with
the authorized dealer under its normal course issuer bid in accordance with
Ontario Securities Commission Staff Notice 55-701 - Automatic Securities
Purchase Plans. As a result, the authorized dealer will be permitted to
purchase common shares in circumstances where the Company would be precluded
from instructing the dealer to make such purchases.
Under its most recent normal course issuer bid, the Company repurchased
and cancelled a total of 1,617,400 shares. A total of 44,701,875 common shares
were issued and outstanding as of June 29, 2007.
About Pareto Corporation
Pareto Corporation is a marketing services company that offers marketing
execution solutions to leading companies in a broad range of industry sectors.
Pareto provides measurable, quantifiable services that complement our clients'
marketing and sales departments. For more information, please visit our
website at www.pareto.ca.
This press release contains forward-looking statements related to
expected future events and financial operating results of Pareto that involve
risks and uncertainties. Actual results may differ materially from management
expectations as projected in such forward-looking statements for a variety of
reasons, including market and general economic conditions and the risks and
uncertainties detailed from time to time in Pareto's SEDAR filings.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
For further information:
For further information: Kerry Shapansky, President and Chief Executive
Officer, Pareto Corporation, (416) 790-2350; Clint Becker, Chief Financial
Officer, Pareto Corporation, (416) 790-2360; Jeff Codispodi, Investor
Relations, Equicom Group, (416) 815-0700 ext.261