Intrawest announces share repurchase program
2005年11月8日 - 1:13AM
PRニュース・ワイアー (英語)
Listed: NYSE TSX Symbols: IDR (NYSE) ITW (TSX) VANCOUVER, Nov. 7
/PRNewswire-FirstCall/ -- Intrawest Corporation today announced its
intention to effect a normal course issuer bid through the
facilities of the Toronto Stock Exchange (the "TSX") for up to
4,600,000 Common Shares, which is no greater than 10% of the
"public float" (as defined in the Policies and Rules of the TSX) of
its Common Shares. There are currently 48,338,526 Common Shares
issued and outstanding, of which 46,219,716 constitute the "public
float" as of today's date. Intrawest intends to file with the TSX a
Notice of Intention to make a Normal Course Issuer Bid in
accordance with the rules of the TSX. Intrawest expects to be in a
position to commence purchases of the Common Shares on or about
November 15, 2005. The bid will terminate on the earlier of (i) the
expiry of 12 months from the commencement of the bid and (ii) the
date upon which Intrawest has acquired the maximum number of Common
Shares permitted under the bid. Purchases will be made from time to
time at the then current market price of the Common Shares as
traded on the TSX and Common Shares purchased will be cancelled.
Intrawest does not believe that current market prices of
Intrawest's Common Shares reflect the underlying value of the
company and accordingly believes that share purchases at current
prices would provide value and should increase liquidity to
shareholders. Intrawest Corporation (IDR:NYSE; ITW:TSX) is a world
leader in destination resorts and adventure travel. The company has
interests in 10 resorts at North America's most popular mountain
destinations, including Whistler Blackcomb, a host venue for the
2010 Winter Olympic and Paralympic Games. Intrawest owns Canadian
Mountain Holidays, the largest heli-skiing operation in the world,
and an interest in Abercrombie & Kent, the world leader in
luxury adventure travel. The Intrawest network also includes
Sandestin Golf and Beach Resort in Florida and Club Intrawest - a
private resort club with nine locations throughout North America.
Intrawest develops real estate at its resorts and at other
locations across North America and in Europe. Intrawest is
headquartered in Vancouver, British Columbia. For more information,
visit http://www.intrawest.com/. For additional information, please
contact Mr. John Currie, chief financial officer, at (604) 669-9777
or Mr. Tim McNulty, director, investor relations at (604) 623-6620
or at If you would like to receive future news releases by email,
please contact DATASOURCE: Intrawest Corporation CONTACT: Mr. John
Currie, chief financial officer, at (604) 669-9777 or Mr. Tim
McNulty, director, investor relations at (604) 623-6620 or at
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