TORONTO, June 16, 2011 /CNW/ - Genworth MI Canada Inc. (the "Company")
(TSX: MIC) announced today that a notice of variation and extension
(the "Notice of Extension") has been distributed to registered holders
of its common shares. The Notice of Extension relates to the Company's
previously announced extension of the expiry date of its substantial
issuer bid to purchase for cancellation up to $160 million worth of its
common shares (the "Offer") from 5:00 p.m. EDT on June 14, 2011 to 5:00
p.m. EDT on June 27, 2011.
Except for the extension of the expiry date, the terms and conditions
previously set forth in the offer to purchase and circular dated May
19, 2011 continue to be applicable in all respects. The full details of
the Offer are described in the Notice of Extension and the offer to
purchase and circular, as well as the related letter of transmittal and
notice of guaranteed delivery. Copies of these documents, including the
Notice of Extension, are available on SEDAR at www.sedar.com, on the Company's website at investor.genworthmicanada.ca and by contacting CIBC Mellon Trust Company, the depositary under the
Offer, toll-free at 1-800-387-0825.
Any questions or requests for assistance, including how to accept the
Offer during the current disruption of postal services, may be directed
to CIBC Mellon Trust Company at the number specified above or at the
addresses set forth in the offer to purchase and circular. Shareholders
may also contact their broker, commercial bank or trust company for
assistance concerning the Offer.
About Genworth MI Canada Inc.
Genworth MI Canada Inc., through its subsidiary, Genworth Financial
Mortgage Insurance Company Canada, has been the leading Canadian
private residential mortgage insurer since 1995. Known as Genworth
Financial Canada, "The Homeownership Company," it provides default
mortgage insurance to Canadian residential mortgage lenders that
enables low down payment borrowers to own a home more affordably and
stay in their homes during difficult financial times. Genworth
Financial Canada combines technological and service excellence with
risk management expertise to deliver innovation to the mortgage
marketplace. As of March 31, 2011, Genworth Financial Canada had $5.4
billion in total assets and $2.6 billion in shareholders' equity.
Based in Oakville, Ontario, Genworth Financial Canada employs
approximately 265 people across Canada. Additional information about
Genworth MI Canada Inc. is available at www.genworth.ca.
Cautionary Note Regarding Forward-Looking Statements
This press release includes certain forward-looking statements. These
forward-looking statements include, but are not limited to, the
Company's plans, objectives, expectations and intentions and other
statements contained in this release that are not historical facts.
These statements may be identified by their use of words such as
"expects", "anticipates", "contemplates", "intends", "plans",
"believes", "seeks", "estimates", or words of similar meaning. These
statements are based on the Company's current beliefs or expectations,
including the Company's assumptions, beliefs and expectations regarding
market conditions. These statements are inherently subject to
significant risks, uncertainties and changes in circumstances, many of
which are beyond the control of the Company. The Company's actual
results may differ materially from those expressed or implied by such
forward looking statements, including as a result of changes in global,
political, economic, business, competitive, market and regulatory
factors, and the other risks described in the Company's Annual
Information Form. Other than as required by applicable laws, the
Company undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information,
future developments or otherwise.
SOURCE Genworth MI Canada
For further information:
Investors - Samantha Cheung, 905-287-5482 firstname.lastname@example.org
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