SNC-Lavalin renews its normal course issuer bid (2009)



    MONTREAL, May 29, 2009 /CNW Telbec/ - The Board of Directors of
SNC-Lavalin Group Inc. has filed a notice to renew, for a 12-month period, its
normal course issuer bid, which will expire on June 1, 2009. In the notice,
the Corporation states that a maximum of 3,000,000 Common Shares, representing
less than 2% of the issued and outstanding Common Shares as of May 20, 2009,
may be purchased for cancellation. As of May 20, 2009, the Corporation had
151,045,093 Common Shares issued and outstanding, 123,773,250 of which made up
the public float.
    The Board of the Corporation believes that the purchase of its shares
makes appropriate and desirable use of its available cash. As a general
practice, the Corporation repurchases its common shares mainly to offset the
dilutive effect of stock issuance under its stock option programs. Therefore,
the Corporation believes that the offer is in the best interest of SNC-Lavalin
and its shareholders.
    These purchases are to be made through the facilities of the Toronto
Stock Exchange, in accordance with its policy on normal course issuer bids.
The price the Corporation will pay for any Common Shares will be the market
price at the time of acquisition, plus brokerage fees. Purchases may commence
on June 2, 2009 and will terminate no later than June 1, 2010. Certain
directors and senior officers of the Corporation may sell securities of the
Corporation during the course of the normal course issuer bid. During the
period that the Normal Course Issuer Bid is outstanding, the Corporation does
not intend to make purchases of its Common Shares other than by means of open
market transactions or such other means as may be permitted by the TSX and
securities regulatory authorities as applicable, including block purchases of
Common Shares.
    The average daily trading volume of the Corporation's Common Shares over
the last six completed calendar months was 539,170 ("ADTV"). Accordingly,
under the Toronto Stock Exchange Rules and policies, the Corporation is
entitled on any trading day to purchase up to 25% of the ADTV, which totals
134,792 Common Shares, for the next 12-month period of the Normal Course
Issuer Bid. In excess of the daily 134 792 repurchase limit, the Corporation
may also purchase, once a week, a block of Common Shares not owned by any
insiders, which may exceed such daily limit, in accordance with the Toronto
Stock Exchange Rules.
    During the period from June 2, 2008 to May 20, 2009 inclusively, the
Corporation purchased 768,800 of its outstanding Common Shares, at a weighted
average price of $49.59.

    SNC-Lavalin (TSX: SNC) is one of the leading engineering and construction
groups in the world and a major player in the ownership of infrastructure, and
in the provision of operations and maintenance services. SNC-Lavalin has
offices across Canada and in 35 other countries around the world, and is
currently working in some 100 countries. www.snclavalin.com

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    Reference in this press release, and hereafter, to the "Corporation" or
    to "SNC-Lavalin" means, as the context may require, SNC-Lavalin Group
    Inc. and all or some of its subsidiaries or joint ventures, or SNC-
    Lavalin Group Inc. or one or more of its subsidiaries or joint ventures.
    Statements made in this press release that describe the Corporation's or
    management's budgets, estimates, expectations, forecasts, objectives,
    predictions or projections of the future may be "forward-looking
    statements", which can be identified by the use of the conditional or
    forward-looking terminology such as "anticipates", "believes",
    "estimates", "expects", "may", "plans", "projects", "should", "will", or
    the negative thereof or other variations thereon. The Corporation
    cautions that, by their nature, forward-looking statements involve risks
    and uncertainties, and that its actual actions and/or results could
    differ materially from those expressed or implied in such forward-looking
    statements, or could affect the extent to which a particular projection
    materializes. For more information on risks and uncertainties, and
    assumptions that would cause the Corporation's actual results to differ
    from current expectations, please refer to the section "Risks and
    Uncertainties" and the section "How We Budget and Forecast Our Results
    and Basis for Providing Financial Guidance", respectively, in the
    Corporation's Annual Report under "Management's Discussion and Analysis",
    and under the section "Caution regarding forward-looking statements" of
    the Corporation's most recent Annual Information Form filed with the
    securities regulatory authorities in Canada, available at SEDAR
    (www.sedar.com). Unless otherwise mentioned, the forward-looking
    statements herein reflect the Corporation's expectations as of the date
    of this press release and are subject to change after this date.
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For further information:

For further information: Investors: Denis Jasmin, Vice-President,
Investor Relations, (514) 393-8000, ext. 7553, denis.jasmin@snclavalin.com;
Media: Gillian MacCormack, Vice-President, Global Public Relations, (514)
393-8000, ext. 7354, gillian.maccormack@snclavalin.com; SNC-Lavalin press
releases are available on its website at www.snclavalin.com.


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