(November 2 – 16:20 ET) – Financial Models Company Inc. says the Toronto Stock Exchange has accepted notice of FMC’s proposed continuation of the normal course issuer bid. FMC intends to purchase up to 550,000 of its common shares, representing approximately 4.93% of its approximately 11,151,176 common shares outstanding.
The purchases may commence November 4, 1999 and will terminate on November 3, 2000 or on such earlier date as FMC may complete its purchase pursuant to the bid or upon termination of the bid by FMC. Purchases will be made on the open market by FMC through the facilities of The Toronto Stock Exchange in accordance with its rules and by-laws. The price which FMC will pay for any such shares will be the market price of such shares at the time of acquisition. Shares purchased pursuant to the bid will be cancelled.
From November 4, 1998 to October 29, 1999 FMC purchased 419,200 of its
common shares at an average price of $10.85 per share.
-IE Staff
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