Cadillac Fairview Corporation Announces Intention to Make Normal Course Issuer Bid.TORONTO--(BUSINESS WIRE)--June 4, 1998--Cadillac Fairview Corporation (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :CDF (1) (Central Distribution Frame) A connecting unit (typically a hub) that acts as a central distribution point to all the nodes in a zone or domain. See MDF. ) (NYSE NYSE See: New York Stock Exchange :CDF) (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CDF) ("Cadillac Fairview") announced today that The Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. has accepted a notice filed by Cadillac Fairview of its intention to make a normal course issuer bid. The notice provides that Cadillac Fairview may, during the 12 month period commencing June 8, 1998, and ending June 7, 1999, purchase on the TSE up to 3,938,132 common shares, being 5 percent of the 78,762,640 outstanding common shares. The price to be paid for the shares will be the market price at the time of purchase. The actual number of shares to be purchased and the timing of such purchases will be determined by Cadillac Fairview and any shares so purchased will be cancelled. "Cadillac Fairview believes that its common shares have been trading in price ranges which do not fully reflect their value. As a result, depending on future price movements and other factors, we believe that the sharesrepresent an attractive investment and that the purchase of these shares is a desirable use of our available funds", said Jon Hagan, Executive Vice-President and Chief Financial Officer. Cadillac Fairview is one of the largest owners, managers and developers of commercial real estate in North America, focusing on high quality retail centres in Canada and the U.S., and office properties in major Canadian cities. It owns interests in or manages 98 properties amounting to 49 million square feet, including some of Canada's landmark properties such as the Toronto Eaton Centre The Toronto Eaton Centre is a large shopping mall and office complex in downtown Toronto, Ontario Canada, named after the now-defunct Eaton's department store chain. In terms of the number of visitors, the shopping mall is Toronto's top tourist attraction. and Toronto-Dominion Centre in Toronto, Pacific Centre in Vancouver and Montreal Eaton Centre in Montreal.
CONTACT: Cadillac Fairview Corporation
Jon Hagan, 416/598-8739
416/598-8254 (FAX)
E-Mail: haganj@cadillacfairview.com
http://www.cadillacfairview.com
|
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion