TORONTO, Aug. 1 /CNW/ - TSX Group Inc. ("TSX Group") announced today that
a normal course issuer bid ("NCIB") has been accepted by Toronto Stock
TSX Group intends to purchase up to 6,841,051 of its Common Shares by way
of normal course purchases on Toronto Stock Exchange, representing 10% of the
public float on July 24, 2007. Daily repurchases will be limited to 94,885
Common Shares, other than block purchase exceptions.
The purchases may commence on August 7, 2007 and will terminate on
August 6, 2008, or on such earlier date as TSX Group completes its purchases.
Purchases will be made by TSX Group in accordance with TSX requirements
and the price which TSX Group will pay for any such Common Shares will be the
market price of such shares at the time of acquisition. All purchases will be
effected through the facilities of TSX. Purchased Shares will be cancelled.
The Company also entered into a pre-defined plan with its designated
broker to allow for the repurchase of Common Shares at times when the Company
ordinarily would not be active in the market due to its own internal trading
blackout periods, insider trading rules or otherwise.
TSX Group believes that the market price of its Common Shares could be
such that their purchase may be an attractive and appropriate use of corporate
funds in light of potential benefits to remaining shareholders. TSX Group has
not purchased any of its Common Shares in the last twelve months.
To the knowledge of TSX Group, no director, senior officer or other
insider of TSX Group currently intends to sell any Common Shares under this
bid. However, sales by such persons through the facilities of the TSX may
occur if the personal circumstances of any such person change or any such
person makes a decision unrelated to these normal course purchases. The
benefits to any such person whose shares are purchased would be the same as
the benefits available to all other holders whose shares are purchased.
About TSX Group Inc. (TSX-X)
TSX Group operates Canada's two national stock exchanges, Toronto Stock
Exchange serving the senior equity market and TSX Venture Exchange serving the
public venture equity market, Natural Gas Exchange (NGX), a leading North
American exchange for the trading and clearing of natural gas and electricity
contracts and Shorcan Brokers Limited, the country's first fixed income
inter-dealer broker. TSX Group also owns The Equicom Group Inc., a leading
provider of investor relations and related corporate communication services in
Canada. TSX Group is headquartered in Toronto and maintains offices in
Montreal, Winnipeg, Calgary and Vancouver.
For further information:
For further information: Steve Kee, Director, Corporate Communications,
TSX Group Inc., Toronto Office, (416) 947-4682, Toll Free 1-888-873-8392,
Cellular (416) 358-3714, Vancouver Office (604) 602-6902, Calgary Office (403)