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Press release from CNW Group

The Brick Ltd. Announces Normal Course Issuer Bid

Thursday, December 22, 2011

The Brick Ltd. Announces Normal Course Issuer Bid12:51 EST Thursday, December 22, 2011Authorized to repurchase up to 5% of its outstanding Debentures/NOT FOR DISTRIBUTION THROUGH U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE U.S./EDMONTON, Dec. 22, 2011 /CNW/ - The Brick Ltd. (TSX: BRK) (the "Corporation") announced today that the Toronto Stock Exchange ("TSX") has accepted the Corporation's notice of intention to make a normal course issuer bid ("NCIB2") on the Corporation's outstanding debentures. The TSX approved the Corporation to buyback up to 5% of its outstanding debentures.  Pursuant to the NCIB2, the notice provides that the Corporation may, during the 12-month period commencing December 28, 2011 and ending December 27, 2012, purchase for cancellation on the TSX up to 5,506 of its debt units, each consisting of $1,000 principal amount of the 12% senior secured debentures (the "Debentures") representing 5% of the 110,139 outstanding Debentures as at December 9, 2011 through the facilities of the TSX or alternative Canadian trading platforms.  The average daily trading volume for the Debentures is 14,685 permitting a daily limit buyback of 3,671.  The Board of Directors of the Corporation believes that such purchases are in the best interests of the Corporation and are a desirable use of corporate resources.On August 26, 2011, the Corporation announced the approval by the TSX for the commencement of a normal course issuer bid ("NCIB1") to buyback up to 5% of its outstanding Class A Common shares ("Shares") and its outstanding warrants ("Warrants"). Under NCIB1, the Corporation has repurchased for cancellation the maximum number of Warrants, being 558,423, representing 5% of the 11,168,470 outstanding Warrants as at August 15, 2011 and the Corporation continues to repurchase for cancellation the maximum number of Shares, being up to 6,104,691 representing 5% of the 122,093,821 outstanding Shares as at August 15, 2011. As at December 19, 2011, pursuant to NCIB1, the Corporation has repurchased for cancellation 1,264,787 Shares.The Corporation, through its operating subsidiaries, is one of Canada's largest volume retailers of household furniture, mattresses, appliances and home electronics, operating under five banners: The Brick, United Furniture Warehouse, The Brick Superstore, The Brick Mattress Store, and Urban Brick. In addition, through its corporate sales division, the Brick Group services the subdivision, condominium, and high-rise builder market. The Brick Group's retail operations are located in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, Prince Edward Island, Nova Scotia, New Brunswick, Northwest Territories and Yukon.This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information is subject to certain factors, including risks and uncertainties, that could cause actual results to differ materially from what the Corporation currently expects and there can be no assurance that such statements will prove to be accurate. Accordingly, readers should not place undue reliance on forward-looking statements.Further information can be found in the disclosure documents filed by The Brick Ltd. with the securities regulatory authorities, available at www.sedar.com and on the Corporation's website www.thebrick.com.For further information: Bill Gregson President & CEO The Brick Group (780) 930-6300 investor@thebrick.com                 Greg Nakonechny VP, Legal & Corporate Secretary The Brick Group (780) 930-6300 investor@thebrick.com