Danier Leather Inc. Renews Share Repurchase Plan.TORONTO Toronto (tərŏn`tō), city (1998 est pop. 2,400,000), provincial capital, S Ont., Canada, on Lake Ontario. Toronto is the largest city in Canada and since the 1970s has been one of the fastest-changing cities in North America, experiencing -- Danier Leather Inc. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :DL.SV) 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 the Corporation of its intention to make a normal course issuer bid. The Corporation currently has 5,399,825 subordinate voting shares Voting Shares Shares that give the stockholder the right to vote on matters of corporate policy making as well as who will compose the members of the board of directors. Notes: Different classes of shares, such as preferred stock, sometimes don't allow for voting rights. issued and outstanding. The notice provides that the Corporation may, during the 12-month period commencing February February: see month. 7, 2005 and ending February 6, 2006, purchase on the Toronto Stock Exchange up to 421,061 subordinate voting shares, being approximately 10% of the Corporation's public float of 4,210,619 subordinate voting shares. The price which the Corporation will pay for any such shares will be the market price at the time of acquisition. The actual number of subordinate voting shares which may be purchased and the timing of any such purchases will be determined by the Corporation. From February 6, 2004 to February 4, 2005, the Corporation purchased for cancellation 322,400 subordinate voting shares at an average price of $11.69 per subordinate voting share. The Corporation believes that the purchase of its subordinate voting shares at prevailing market prices may, from time-to-time, be a worthwhile investment for the Corporation. Subordinate voting shares that are purchased pursuant to the normal course issuer bid will be cancelled by the Corporation, thereby enhancing the remaining shareholders' value by increasing their proportionate pro·por·tion·ate adj. Being in due proportion; proportional. tr.v. pro·por·tion·at·ed, pro·por·tion·at·ing, pro·por·tion·ates To make proportionate. interests. The Corporation's subordinate voting shares are listed on the Toronto Stock Exchange. About Danier Danier Leather Inc. is a leading integrated designer, manufacturer, and retailer of high-quality leather and suede clothing Noun 1. suede cloth - a fabric made to resemble suede leather suede cloth, fabric, textile, material - artifact made by weaving or felting or knitting or crocheting natural or synthetic fibers; "the fabric in the curtains was light and semitransparent"; and accessories. The Company's merchandise is marketed exclusively under the well-known Danier brand name and is available only at its 99 shopping mall, street-front, and power centre stores, or through its corporate sales division and online through its website, www.danier.com. DANIER LEATHER INC. (TSX:DL.SV) |
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