FIRST QUARTER - METRO INC: 19% SALES GROWTH

Subject to regulatory approvals, the Board of Directors has also authorized the Company to purchase, in the normal course of its activities, from February 1, 2000 to January 31, 2001, up to 2,500,000 of its Class A Subordinate Shares, representing 7.6% of the aggregate Class A Subordinate Shares iss...

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Bibliographic Details
Published inCanada NewsWire p. 1
Format Newsletter
LanguageEnglish
Published Ottawa PR Newswire Association LLC 25.01.2000
Subjects
Asset acquisitions
Boards of directors
Capital assets
Deferred income
Deferred income taxes
Dilution
Dividends
Earnings per share
Long term debt
Stockholders
Quebec
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Summary:Subject to regulatory approvals, the Board of Directors has also authorized the Company to purchase, in the normal course of its activities, from February 1, 2000 to January 31, 2001, up to 2,500,000 of its Class A Subordinate Shares, representing 7.6% of the aggregate Class A Subordinate Shares issued and outstanding on January 24, 2000 at the close of trading on the Toronto Stock Exchange, less those escrowed or held by insiders. The purchases will be made at market prices through the facility of the exchange in accordance with its by-laws and rules. The Class A Subordinate Shares thereby purchased will be cancelled. Since February 11, 1999, the Company has purchased in the normal course of its activities 476,800 of its Class A Subordinate Shares at an average price of $18.27 per share. Shareholders may obtain without charge a copy of the documents filed the regulatory authorities concerning this program by writing to our legal department. The Company believes that the purchase of its Class A Subordinate Shares represents an effective use of its funds and is in the best interest of the Company and its shareholders.