TORONTO, Nov. 28 /CNW/ - Belzberg Technologies Inc. ("Belzberg") (TSX:
BLZ) announced today acceptance by the Toronto Stock Exchange of Belzberg's
notice of intention to make a normal course issuer bid. Pursuant to the bid,
Belzberg proposes to purchase through the facilities of the TSX, from time to
time over the next 12 months, if considered advisable, up to an aggregate of
739,379, being approximately 5% of its issued and outstanding common shares,
as of today's date. Except as permitted under the TSX Rules, Belzberg will not
purchase on any given day under the bid, more than the greater of 1,000 shares
and 25% of the average daily trading volume of its common shares for the six
months prior to the date of this notice. The average daily trading volume of
the common shares for such period was 15,640 and in accordance with the
requirements, a maximum daily repurchase of 3,910 shares may be made.
Purchases may commence through the TSX on November 30, 2007 and will conclude
on the earlier of the date on which purchases under the bid have been
completed and November 29, 2008.
The Board of Directors of Belzberg believes that the proposed purchases
are in the best interests of Belzberg and are a desirable use of corporate
funds. All common shares purchased by Belzberg will be cancelled.
On April 1, 2006, Belzberg commenced a normal course issuer bid to
purchase up to 701,000 common shares through the facilities of the TSX.
Belzberg did not purchase any shares under that bid, which expired on March
31, 2007. As of today's date, Belzberg has 14,787,599 issued and outstanding
Belzberg Technologies Inc. is a provider of technology-based brokerage
services, trading equities and options through Electronic Brokerage Systems,
Belzberg Technologies' wholly owned agency-only broker-dealer. Electronic
Brokerage Systems is a member of most North American stock exchanges, options
exchanges and clearing organizations, including the NYSE, NASDAQ, CBOE, NSCC
and OCC. Using Belzberg's suite of integrated trading tools and network
connectivity, Belzberg's customers have direct access to all North American
equities and options markets. The firm's client-base includes over 200 leading
U.S and international brokerage houses and financial institutions. Belzberg
Technologies is listed on the Toronto Stock Exchange (ticker: BLZ). Additional
information is available at www.belzberg.com.
Forward looking statement disclaimer
Except for historical information contained herein, the matters discussed
in this press release are based on forward-looking statements that involve
risk and uncertainty. A variety of important factors could cause results to
differ materially from such statements, including but not limited to economic,
competitive, governmental and technological factors affecting the company's
operation, markets, products, prices and other factors.
For further information:
For further information: Sid Belzberg, Chief Executive Officer, Phone:
(416) 360-1812, E-mail: email@example.com