Oct. 8, 2002 – Ottawa, Ontario, Canada – MOSAID Technologies Inc. intends to make a normal course issuer bid through the facilities of The Toronto Stock Exchange.
MOSAID plans to purchase up to 300,000 common shares, representing 2.9% of the 10,258,926 common shares issued and outstanding as of Oct. 1. The issuer bid will commence on Oct. 9, and will not extend beyond Oct. 8. MOSAID won’t purchase more than 2% of the common shares issued and outstanding as at the commencement of this bid.
Any MOSAID share purchases will be made on the Toronto Stock Exchange at market prices and the purchased shares will be cancelled. MOSAID said it believes that its strong cash position supports such share repurchases and that any purchases made will be in the best interests of the shareholders.
MOSAID has purchased 100,800 common shares under a Normal Course Issuer Bid within the past twelve months.