Forzani renews normal course issuer bid
The Forzani Group (TSX: FGL) said the Toronto Stock Exchange has accepted its application to renew its normal course issuer bid to purchase outstanding Class “A” shares. All purchases will be made through the facilities of the TSX.
As of April 9, there were 30.4 million common shares issued and outstanding. During the most recent normal course issuer bid, which commenced March 28, 2008 and expired March 27, 2009, the company purchased 2.6 million common shares, at an average price of $16.35.
The company said in a filing that the number of common shares which may be purchased during the period of the bid will not exceed 2.4 million common shares, which is approximately 10 percent of the public float of the company.
Forzani’s retail banners include Sport Chek, Coast Mountain Sports, Sport Mart and Fitness Source.
–Compiled by Wendy Geister
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