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Logistec Corporation renewed its normal course issuer bid in the normal course of business

Montreal 10/22/2012 05:25 PM GMT (LinkMyStock)


LOGISTEC CORPORATION ("Logistec") (TSX: LGT.A) (TSX: LGT.B) today announced that it has renewed its program issuer in the ordinary course of business ("RACNA"). Logistec believes that the repurchase of its shares could be an appropriate and desirable use of cash at its disposal. Therefore, Logistec believes that the offer is in the best interests of Logistec and its shareholders.


The Toronto Stock Exchange (the "Exchange") has accepted a notice filed by Logistec of its intention to make a RACNA. According to the notice, Logistec intends to purchase for cancellation in accordance with the requirements of the Exchange i) up to 187,680 Class A common shares ("Class A Shares"), representing 5% of the outstanding Class A Shares and ii) up to 136,782 subordinate voting Class B ("Class B Shares"), representing 5% of the outstanding Class B Shares.


The average daily trading volume (the "ADTV") of the Class A Shares and Class B Shares of Logistec last six completed calendar months was 17 and 793, respectively. Therefore, under the rules of the Exchange, Logistec the right to redeem at any Trading Day up to 1000 shares by category. Once a week, in addition to the daily limit of 1,000 by category, Logistec may also purchase a block of shares in each category is not owned by an insider (i) the purchase price which is $ 200,000 or more, (ii) the number is at least 5,000 shares whose purchase price is at least $ 50,000, or (iii) who is at least 20 board lots of actions and is at least 150% of the ADTV in accordance with the rules of the Exchange. Logistec has retained BMO Nesbitt Burns Inc.. as broker to manage the program.


Logistec has repurchased some of its shares during the twelve (12) months under a RACNA which began October 24, 2011 and ending no later than 23 October 2012. Share repurchases were made through the Exchange. During this period, a total of 4,600 Class A shares and 34,500 Class B shares were repurchased at an average price of $ 22.71 and $ 21.24, respectively.


The new RACNA begin October 24, 2012 and ending no later than 23 October 2013. All purchases will be made ​​through the stock exchange through a share buyback program will automatically Logistec with his broker, which will allow it to repurchase shares for Logistec at any time, including during periods of blackout . Redemption and payment for the shares will be made ​​by Logistec in accordance with the requirements of the Exchange and the price Logistec will pay for any shares will be the market price of such shares at the time of acquisition. At the close of business on October 19, 2012, 3,753,611 Class A shares and 2,735,650 Class B shares were issued and outstanding.


About Logistec


Headquartered in Montreal (QC), Logistec Corporation provides specialized services to the marine industry and industrial companies. It handles including bulk cargo, general cargo and containers at 23 ports in eastern Canada, the Great Lakes and the east coast of the United States. It also provides marine transportation services primarily to the Arctic coast, the rail services on short as well as agency services to shipowners and operators of foreign vessels serving the Canadian market. In addition, the Company operates in the environmental sector where it provides, industrial companies and municipalities, services trenchless structural rehabilitation of water mains, PCB management, site remediation, risk analysis and manufacturing woven hoses.


The Company has been profitable and has paid regular dividends since becoming a public company, which has grown steadily over the years. Company since 1969, Logistec's shares are traded on the Toronto Stock Exchange under the symbols LGT.A and LGT.B. For more information, please visit the website of the Company www.logistec.com .





jdugas@logistec.com
www.logistec.com/sites/logistec/page/welcome.php

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