ANCASTER, ON, April 13 /CNW/ - The Loyalist Insurance Group Limited (TSXV-NEX symbol: LOY.H) has received a notice of acceptance from the TSXV-NEX to renew its Normal Course Issuer Bid for up to 904,010 Common Shares through the facilities of the TSXV -NEX and in accordance with the by-laws and rules of the Exchange. The shares to be purchased represent approximately 5% of the outstanding Common Shares of Loyalist. This Normal Course Issuer Bid will commence May 7, 2010 and terminate on May 6, 2011. The Company's agent in this matter is Tony Migliarese at Haywood Securities Inc., Calgary, Alberta.
The board of directors of Loyalist has authorized a Normal Course Issuer Bid because it believes that in appropriate circumstances the repurchased Common Shares represent an attractive investment for Loyalist and that consequently such purchases will enhance the value of the Common Shares held by remaining shareholders.
The TSXV-NEX has neither approved nor disapproved of the information contained herein.
SOURCE Loyalist Group Limited
For further information: For further information: Mr. Donald W. Coons, President & CEO, The Loyalist Insurance Group Limited, (905) 648-8637 x 247