Alliance Forest Products Inc. files notice of normal course issuer bid.MONTREAL, Quebec--(BUSINESS WIRE)--Feb. 16, 1996--Subject to regulatory approval of documentation filed today by Alliance Forest Products Inc. (ME/TSE:ALP (language) ALP - A list processing extension of Mercury Autocode. ["ALP, An Autocode List-Processing Language", D.C. Cooper et al, Computer J 5:28-31, 1962]. ) ("Alliance") with The Montreal Exchange Montreal Exchange A Canadian derivatives exchange that facilitates the trading of stock options, interest rate futures and options, as well as index options and futures. Located in Montreal, Quebec, it is the country's main financial derivative market, while the Winnipeg and The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. in respect of a normal course issuer bid scheduled for the period commencing March 1, 1996 and ending no later than Feb. 28, 1997, Alliance wishes to repurchase re·pur·chase tr.v. re·pur·chased, re·pur·chas·ing, re·pur·chas·es To buy (something) again. n. The act of buying something that one previously sold or owned. Noun 1. for cancellation up to 875,000 (5 percent) of its common shares outstanding. As of Dec. 31, 1995, there were 17,504,079 common shares outstanding. Repurchase of the shares would be carried out through the facilities of the same exchanges. Alliance believes that, as a result of the volatility in equity markets, its common shares may become available at prices which would represent for Alliance an attractive opportunity. Alliance also thinks that the repurchasing of common shares which it may carry out from time to time will be in the best interests of its shareholders. Alliance has purchased 360,700 common shares at an average price of $25.59 per share for a total of $9,231,198 during the fiscal year 1995. Repurchase of common shares could be made from time to time, at market prices, during the period starting March 1, 1996, and ending no later than Feb. 28, 1997. To the best of Alliance's knowledge, no director, senior officer or other insider of Alliance has any present intention to sell Alliance shares during the course of the bid. Alliance Forest Products Inc. is an integrated company specializing in timber harvesting and forest management, as well as in the production and sale of newsprint newsprint low grade paper used for newspapers. Old newspapers are fed to cattle as an alternative roughage and may occasionally be ingested by dogs. Significant amounts of lead are accumulated in tissues; no cases of poisoning have been recorded in cattle, though it has been , uncoated groundwood papers, lumber lumber, term for timber that has been cut into boards for use as a building material. The major steps in producing lumber involve logging (the felling and preparation of timber for shipment to sawmills), sawing the logs into boards, grading the boards according to and related products. The common shares of Alliance Forest Products Inc. are listed on The Montreal Exchange and the Toronto Stock Exchange under the symbol ALP. -0- Note to Editors: This news release amends AMENDS. A satisfaction, given by a wrong doer to the party injured for a wrong committed. 1 Lilly's Reg. 81. 2. By statute 24 Geo. II. c. 44, in England, and by similar statutes in some of the United States, justices of the peace, upon being notified of an and replaces the news release issued on Feb. 15, 1996. CONTACT: Dino Fuoco Vice-President Finance and Chief Financial Officer (514) 954-2118 |
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