ROUGEMONT, QC, Jan. 9 /CNW Telbec/ - Lassonde Industries Inc. (LAS.A -
TSX) 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 195,900 Class "A" Subordinate Voting Shares of its share capital
(representing 10% of the public float being 1,959,005 shares as at January 7,
2009) during the period beginning on January 13, 2009 and ending on or before
January 12, 2010. As at January 7, 2009, there were 2,891,200 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 2,649 (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, 2008 to January 7, 2009 Lassonde has
acquired 24,000 Class "A" Subordinate Voting Shares at the weighted average
price of $37.12.
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 12, 2010.
About Lassonde Industries Inc.
Lassonde Industries Inc. is a Canadian leader in the development,
manufacture, and marketing of a wide range of fruit and vegetable juices and
drinks, fondue bouillons and sauces. The Company also produces and markets
certain specialty food products such as canned corn-on-the-cob, meat
marinades, barbecue sauces, brunch beans, pasta sauces, tapenades and
bruschetta toppings. Finally, the Company packages and markets imported wines
from various countries. Nearly 1,200 employees contribute to the Company's
growth and to offering quality products to customers.
For further information:
For further information: Guy Blanchette, CA, CMA, Vice-President and
Chief Financial Officer, Lassonde Industries Inc., (514) 878-1057