MDS Inc. Normal Course Issuer Bid
03 Juli 2007 - 2:00PM
PR Newswire (US)
TORONTO, July 3 /PRNewswire-FirstCall/ -- MDS Inc. (TSX: MDS, NYSE:
MDZ), a leading provider of enabling products and services to the
global life sciences markets, today announced that the Toronto
Stock Exchange has accepted MDS's Notice of Intention to make a
normal course issuer bid. The Notice provides for purchase of up to
4,506,236 of MDS Common shares (5% of the public float of
90,124,736 Common shares) from time to time during the next 12
months, if deemed appropriate by the Chief Executive Officer and
Chief Financial Officer of the Company. This will replace the
Company's previous normal course issuer bid, which expired on June
29, 2007. The Company did not purchase any Common shares under the
expired normal course issuer bid, as the Company purchased
22,831,500 of its Common shares in a substantial issuer bid which
was completed in April. Under the new bid, MDS may purchase up to
4,506,236 Common shares. As of June 26, 2007, there were
122,513,283 Common shares issued and outstanding. The purchases may
begin July 3, 2007 and will end no later than July 2, 2008. Any
shares purchased through the bid will be purchased for cancellation
through the facilities of the TSX at market price. Since all
purchases of Common shares associated with the issuer bid would be
made on the open market, the Company is not in a position to know
the identity of the parties from whom it may purchase Common
shares. The Company believes that the purchase of outstanding
Common shares may at certain times during the bid period enhance
value for shareholders and is an appropriate use of funds. This
document contains forward-looking statements. Some forward-looking
statements may be identified by words like "expects",
"anticipates", "plans", "intends", "indicates" or similar
expressions. The statements are not a guarantee of future
performance and are inherently subject to risks and uncertainties.
The Company's actual results could differ materially from those
currently anticipated due to a number of factors, including, but
not limited to, successful integration of structural changes,
including restructuring plans, acquisitions, technical or
manufacturing or distribution issues, the competitive environment
for the Company's products, the degree of market penetration of the
Company's products, and other factors set forth in reports and
other documents filed by the Company with Canadian and US
securities regulatory authorities from time to time. About MDS MDS
Inc. (TSX: MDS; NYSE: MDZ) is a global life sciences company that
provides market-leading products and services for the development
of drugs and diagnosis and treatment of disease. We are a leading
global provider of pharmaceutical contract research, medical
isotopes for molecular imaging, radiotherapeutics, and analytical
instruments. MDS Inc. has more than 6,200 highly skilled people in
28 countries. Find out more at http://www.mdsinc.com/ or by calling
1-888-MDS-7222, 24 hours a day. DATASOURCE: MDS Inc. CONTACT:
Investors: Sharon Mathers, Senior Vice-President, Investor
Relations and External Communications, MDS Inc., (416) 675-6777 x
34721, ; Media: Catherine Melville, Director, External
Communications, MDS Inc., (416) 675-6777 x 32265,
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