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03.24.2006 - ATI Announces Normal Course Issuer Bid

View ATi-press related news. MARKHAM, Ontario--(BUSINESS WIRE)--March 24, 2006--ATI Technologies Inc. (TSX:ATY)(NASDAQ:ATYT) today announced that a Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange ("TSX"). Under its normal course issuer bid, ATI may purchase up to 25,100,000 of its common shares, representing approximately 10% of the "public float" as of March 15, 2006 (calculated in accordance with TSX Rules and Policies to be 251,566,282 common shares). A total of 253,594,151 common shares were issued and outstanding as of March 15, 2006. ATI will cancel any common shares purchased pursuant to the normal course issuer bid. The purchases may commence on Thursday, March 30, 2006 and will terminate on Thursday, March 29, 2007, or on such earlier date as ATI may complete its purchases pursuant to the Notice of Intention to make a normal course issuer bid filed with the TSX. Purchases will be made on the open market by ATI through the facilities of the TSX or the Nasdaq Stock Market Inc. ("NASDAQ"). The purchases will be made by ATI in accordance with TSX Rules and Policies and Rule 10b-18 of the U.S. Securities Exchange Act of 1934. The prices that ATI will pay for any purchased common shares will be the market price of such shares on the TSX or NASDAQ, as the case may be, at the time of acquisition. ATI will make no purchases of common shares other than open-market purchases. ATI has purchased 2,408,100 of its common shares within the past 12 months at an average price of US$12.89 per share pursuant to its normal course issuer bid commenced on March 30, 2005.

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NID: 9885 / Submitted by: TACKtech Team
Categories: Press Release
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