ROUGEMONT, QC, Jan. 9 /CNW Telbec/ - LASSONDE INDUSTRIES INC. LAS.SV.A
("Lassonde"), of Rougemont, announces that it intends to acquire for
cancellation a certain number of Class "A" Subordinate Voting Shares of its
share capital through the facilities of The Toronto Stock Exchange, in
accordance with the rules and policies on normal course issuer bids of the
Toronto Stock Exchange.
Lassonde intends to acquire Class "A" Subordinate Voting Shares, without
exceeding 163,046 Class "A" Subordinate Voting Shares of its share capital
(representing 10% of the public float being 1,630,465 shares as at January 8,
2008) during the period beginning on January 11, 2008 and ending on or before
January 10, 2009. As at January 8, 2008, there were 2,915,200 issued and
outstanding Class "A" Subordinate Voting Shares.
The average daily trading volume of Lassonde's class A subordinate voting
shares over the last six completed calendar months was 1,125 (the "ADTV").
Accordingly, under the Toronto Stock Exchange Rules and policies, Lassonde is
entitled on any trading day to purchase up to 1,000 class A subordinate voting
shares. Once a week, in excess of the daily 1,000 repurchase limit, Lassonde
may also purchase a block of shares not owned by an insider (i) having a
purchase price of $200,000 or more, (ii) of at least 5,000 shares having a
purchase price of at least $50,000, or (iii) of at least 20 board lots of
shares which total 150% or more of the ADTV, the whole in accordance with the
Toronto Stock Exchange rules.
During the period from January 11, 2007 to January 9, 2008 Lassonde has
acquired 52,760 class "A" Subordinate Voting Shares at the weighted average
price of $37,77.
Lassonde is making the normal course issuer bid because it is of the view
that it may be advantageous to engage in purchases of the Class "A"
Subordinate Voting Shares, from time to time, when, in the opinion of
management, they are trading at prices which reflect a discount from what
management constitutes to be the appropriate value of the Class "A"
Subordinate Voting Shares.
No directors, officers or insiders of Lassonde intend to sell the Class
"A" Subordinate Voting Shares under the proposed purchase.
Lassonde reserves the right to discontinue purchases at any time prior to
January 10, 2009.
For further information:
For further information: Guy Blanchette, Vice-President Finance,
Lassonde Industries Inc., (514) 878-1057