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TORONTO, May 17, 2012 /CNW/ - Cymbria Corporation (TSX: CYB) ("Cymbria" or "the Company") announced today that it has filed a notice with the Toronto Stock Exchange and received its approval to make a Normal Course Issuer Bid ("NCIB") permitting the Company to purchase for cancellation of up to 1,421,059 non-voting, non-redeemable Class A Shares (the "Shares") representing 10% of the Company's public float of Shares as of May 14, 2012. As of May 14, 2012, Cymbria had a total of 14,326,467 Shares issued and outstanding.
Cymbria may buy back Shares from time to time during the twelve-month period beginning on May 17, 2012 and ending on May 16, 2013. Any purchases under the NCIB will be made through the facilities of the TSX.
In accordance with TSX rules, the Company can purchase a maximum of 286,529 Shares during a 30-day period, subject to certain TSX exceptions.
The Company is implementing the NCIB to allow it to purchase Shares if and when it makes sense to do so.
Under the Company's previous NCIB which expired on May 15, 2012, the Company purchased for cancellation 173,000 Shares at a weighted average price of $11.95.
ABOUT CYMBRIA CORPORATION
Cymbria Corporation is a non-redeemable investment fund with an investment objective to provide shareholders with long-term capital appreciation through an actively managed portfolio comprised primarily of global equity securities and an investment in EdgePoint Wealth Management Inc. Cymbria began trading on the TSX on November 4, 2008 under the symbol CYB.
For further information:
Patrick Farmer at 416.963.9353 or email@example.com