SEAGRAM RENEWS SHARE REPURCHASE PROGRAM
SEAGRAM RENEWS SHARE REPURCHASE PROGRAM MONTREAL, Sept. 8 /PRNewswire/ -- The Seagram Company Ltd.
(NYSE: VO) announced that its board of directors has renewed the company's authorization to purchase up to five percent of its common shares outstanding as of Sept. 25, 1992, as an appropriate and desirable investment. This would represent a maximum of approximately 18,760,000 shares out of 375,276,403 shares outstanding as of Aug. 31, 1992.
Seagram may purchase shares on the open market through the facilities of the Montreal, Toronto and New York stock exchanges from time to time over the course of twelve months commencing Sept. 25, 1992. Under its previous share repurchase program, which expires Sept. 24, 1992, 6,891,200 common shares were repurchased as of Aug. 31, 1992 at an average price of U.S.$29.48 (adjusted for the four-for-one share split effective June 1, 1992). -0- 9/8/92 /CONTACT: Chris Tofalli of The Seagram Company Ltd., 212-572-1118/ (VO) CO: The Seagram Company Ltd. ST: Quebec IN: FOD SU:
TS -- NY017 -- 6922 09/08/92 10:30 EDT
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|Date:||Sep 8, 1992|
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