Transcontinental Announces Normal Course Issuer Bid
Press release from the issuing company
Montreal, November 16, 2005 – Transcontinental Inc. has been authorized to purchase for cancellation on the open market, between November 21, 2005 and November 20, 2006, up to 887,015 of its Class B Shares, representing 5% of the 17,740,294 issued and outstanding Class B Shares as of November 11, 2005, and up to 3,578,325 of its Class A Subordinate Voting Shares, representing 5% of the 71,566,506 issued and outstanding Class A Subordinate Voting Shares as of November 11, 2005. The purchases will be made in the normal course of business at market prices through the facilities of the Toronto Stock Exchange in accordance with the requirements of the exchange. Transcontinental Inc. has not purchased any of its Class B Shares or Class A Subordinate Voting Shares in the past twelve months.
The Corporation has determined that the purchase of its Class B Shares and Class A Subordinate Voting Shares will allow it to optimize its capital structure and to create long-term value for shareholders.
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