ClubLink Announces Normal Course Issuer Bid For Common Shares.KING CITY, Ontario King City is an affluent, unincorporated village in King Township, Ontario, Canada, located just north of Toronto. It is the largest community in King Township, with 2686 dwellings and a population of 7814. -- ClubLink Corporation ("ClubLink") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :LNK LNK Love and Kisses LNK Lincoln, NE, USA - Municipal Airport (Airport Code) LNK Laisvas Nepriklausomas Kanalas (Lithuanian TV) LNK Linkcentre (website) ) announced today acceptance by the Toronto Stock Exchange Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. (the "TSX") of ClubLink's Notice of Intention to renew its Normal Course Issuer Bid (the "NCIB NCIB National Charities Information Bureau (now part of Wise Giving Alliance) NCIB National Collection of Industrial Bacteria (Edinburgh, Scotland) "). Pursuant to the NCIB, ClubLink proposes to purchase, from time to time, if it is considered advisable, up to 851,700 Common Shares of ClubLink, being approximately 5% of its 17,035,807 issued and outstanding Common Shares as of the date hereof, on the TSX commencing January 31, 2006. The Board of Directors of ClubLink believes that such purchases are in the best interests of ClubLink and are a desirable use of corporate funds. All purchases will be made through the facilities, and in accordance with the rules and policies, of the TSX. All Common Shares purchased by ClubLink pursuant to the NCIB will be cancelled. The NCIB will expire on January 30, 2007. In January 2005, ClubLink announced a similar normal course issuer bid with respect to the Common Shares. Under that bid, which expired on January 26, 2006, an aggregate of 189,982 Common Shares were repurchased and cancelled at an average price of $9.29 per share excluding commissions. On October 6, 2005, ClubLink announced a normal course issuer bid, expiring on October 10, 2006 to purchase up to $7,138,000 principal amount of its outstanding 6% convertible unsecured subordinated debentures subordinated debenture An unsecured bond with a claim to assets that is subordinate to all existing and future debt. Thus, in the event that the issuer encounters financial difficulties and must be liquidated, all other claims must be satisfied before . As of January 27, 2006, ClubLink has repurchased for cancellation $92,000 principal amount of its debentures for an aggregate purchase price of $91,080, excluding commissions. ClubLink has $75,092,000 principal amount of its debentures outstanding as of January 27, 2006. ClubLink is Canada's largest owner and operator and developer of golf clubs. ClubLink Corporation (TSX:LNK) |
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