Dundee Corporation Renews Its Normal Course Issuer Bid
March 28 2013 - 9:19AM
Marketwired
Dundee Corporation ("Dundee" or the "Company") (TSX:DC.A) today
announced receipt of regulatory approval respecting its intention
to continue its normal course issuer bid (the "Bid") through the
facilities of the Toronto Stock Exchange ("TSX") from April 1, 2013
to March 31, 2014. Dundee may purchase up to a maximum of 2,704,138
of its Class A Subordinate Voting Shares ("Shares"), representing
approximately 10% of its public float. As of March 22, 2013, Dundee
had 50,947,352 Shares issued and outstanding. Dundee may purchase
up to 20,403 Shares during any trading day which represents 25% of
its average daily trading volume being 81,613 Shares for the most
recently completed six calendar months prior to TSX acceptance of
the notice of normal course issuer bid, other than pursuant to a
block purchase exception. The purchases will be made in accordance
with the Policies and rules of the TSX. The price paid for any
Shares acquired will be the market price at the time of purchase
and all Shares purchased under the Bid will be cancelled.
Dundee believes that the purchase of its Shares at current
market values represents a good long-term investment for the
Company. Under the previous normal course issuer bid which came
into effect on April 1, 2012 and will expire on March 31, 2013,
Dundee purchased an aggregate of 912,900 Shares at a weighted
average price of $24.14 through the facilities of the TSX.
ABOUT THE CORPORATION
Dundee Corporation is a public Canadian independent holding
company listed on the Toronto Stock Exchange ("TSX") under the
symbol "DC.A." Through its operating subsidiaries, Dundee
Corporation is engaged in diverse business activities in the areas
of its core competencies including investment advisory and
corporate finance, real estate and infrastructure, energy,
resources and agriculture. Dundee Corporation also holds, directly
and indirectly, a portfolio of investments mostly in these core
focus areas, as well as other select investments in both publicly
listed and private companies.
Contacts: Dundee Corporation Ned Goodman President and Chief
Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot
Vice President and Chief Financial Officer (416) 365-5157
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