Press release from Marketwire
Integrated Asset Management Corp. Announces Normal Course Issuer Bid
Thursday, May 16, 2013
Integrated Asset Management Corp. Announces Normal Course Issuer Bid11:50 EDT Thursday, May 16, 2013
TORONTO, ONTARIO--(Marketwired - May 16, 2013) - Integrated Asset Management Corp. ("IAM") (TSX:IAM) today announced that the Toronto Stock Exchange (the "TSX") has approved IAM's notice of intention to make a normal course issuer bid for the purchase for cancellation of certain of its common shares.
As at May 13, 2013, there were 28,310,150 issued and outstanding common shares of IAM. Under the announced normal course issuer bid, IAM is permitted to purchase up to 1,415,507 common shares (representing 5.0% of the issued and outstanding common shares) at prevailing market prices during the 12 month period commencing May 21, 2013 and ending May 20, 2014. IAM has not purchased any of its shares in the 12 months preceding the date hereof.
Except where reliance is placed on the TSX's block purchase exemption, IAM may purchase up to 1,297 common shares on the TSX on any trading day, which represent 25% of the average daily trading volume on the TSX of 5,189 shares for the most recently completed six calendar months prior to the date of the notice. Purchases will be executed through the facilities of the TSX at prevailing market prices under the rules and policies of the TSX. All securities purchased by IAM under the normal course issuer bid will be cancelled.
IAM considers that these purchases from time to time at prevailing market prices may provide liquidity for shareholders and be a worthwhile investment for both IAM and its shareholders.
IAM is one of Canada's leading alternative asset management companies with approximately $1.9 billion in assets and committed capital under management in real estate, private corporate debt, private equity, managed futures and retail alternative investments.
FOR FURTHER INFORMATION PLEASE CONTACT:
Integrated Asset Management Corp.
416 933 8278