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Press release from CNW Group

BMTC Group Inc. announces the renewal of its normal course issuer bid to acquire Class A Subordinate Voting Shares

Tuesday, March 06, 2012

BMTC Group Inc. announces the renewal of its normal course issuer bid to acquire Class A Subordinate Voting Shares09:51 EST Tuesday, March 06, 2012MONTREAL, March 6, 2012 /CNW Telbec/ - The Company announces that it has received the required regulatory approvals to renew its normal course issuer bid to acquire Class A Subordinate Voting Shares listed on the Toronto Stock Exchange (the "TSX") for the period between March 8th, 2012 and March 7th, 2013, at the latest. The Company's previous normal course issuer bid ended on October 3rd, 2011. Pursuant to its renewed normal course issuer bid, the Company intends to acquire, through the facilities of the TSX and through alternative trading systems (such as Alpha ATS) and in accordance with their requirements, up to 2,312,020 of Class A Subordinate Voting Shares, representing about 5% of the 46,240,417 Class A Subordinate Voting Shares issued and outstanding as at February 29th, 2012.Within the last 12 months, the Company acquired for cancellation, under its previous normal course issuer bid, a total of 2,410,500 Class A Subordinate Voting Shares with respect to which the weighted average price paid was $22.36 per share.In accordance with TSX requirements, the average daily trading volume of BMTC's Class A Subordinate Voting Shares over the last six complete calendar months was 8,393 shares (the "ADTV"). Accordingly, under TSX rules and policies, BMTC is entitled on any trading day to purchase up to 2,098 Class A Subordinate Voting Shares until March 7th, 2013. Once a week, in excess of the daily Class A Subordinate Voting Shares repurchase limit, BMTC may also purchase a block of Class A Subordinate Voting Shares not owned by an insider (i) having a purchase price of $200,000 or more, (ii) of at least 5,000 Class A Subordinate Voting Shares having a purchase price of at least $50,000, or (iii) of at least 20 board lots of Class A Subordinate Voting Shares which total 150% or more of the ADTV in accordance with TSX rules. BMTC has retained National Bank Financial Inc. as broker to manage the Normal Course Issuer Bid.When acquiring Class A Subordinate Voting Shares through alternative trading systems (such as Alpha ATS), none of the requirements listed in the previous paragraph are applicable.BMTC considers that the acquisition of Class A Subordinate Voting Shares that it may effect from time to time in the course of its normal course issuer bid is a sound use of its funds.BMTC Group inc., which Class A Subordinate Voting Shares are listed on the Toronto Stock Exchange, is an important retailer of furniture, electronic goods and household appliances in appliances in the areas of Montreal, Quebec City, Repentigny, Ste-Therese, Laval, Longueuil, Kirkland, St-Georges, Trois-Rivières, Sherbrooke, Chicoutimi, Rivière-du-Loup, Rimouski, Levis, Beauport, Ste-Foy, Gatineau, Ste-Hyacinthe, St-Jean-sur-le-Richelieu, Granby, Vaudreuil, Mascouche and St-Jérôme through its subsidiary Brault & Martineau and Ameublements Tanguay.For further information: Mr. Yves Des Groseillers Chairman, President and Chief Executive Officer BMTC Group inc. (514) 648-5757