Espial Announces its Intention to Make a Normal Course Iuer Bid

Espial Announces its Intention to Make a Normal Course Issuer Bid

Ottawa, Ontario - Aug 22, 2016 Transforming the viewing [ ]

Ottawa, Ontario - Aug 22, 2016 Transforming the viewing experience worldwide, Espial Group Inc. ( Espial or the Company ), (TSX:ESP), today announced its intention to make a normal course issuer bid through the facilities of the Toronto Stock Exchange (TSX). Repurchases will not exceed 3,221,191 common shares, representing 10% of Espial public float of common shares, as of August 10, 2016. The number of common shares of Espial outstanding as of August 10, 2016 was 37,368,234 and the number of shares in Espial's public float as of August 10, 2016 was 32,211,915. The issuer bid will commence on August 24, 2016 and will not extend beyond August 23, 2017.

All purchases of common shares under the normal course issuer bid will be made on the open market through the facilities of the TSX at market prices in accordance with TSX rules. The common shares so purchased will be cancelled. Other than block purchase exceptions, daily purchases will be limited to 25% of the average daily trading volume, which is 20,245.

The Company also established an automatic plan under which its broker, Beacon Securities Limited, may purchase common shares of Espial pursuant to the normal course issuer bid (NCIB). The plan defines a prearranged set of criteria in accordance with which its broker may make share purchases. The plan will enable the purchase of Espial's common shares at any time, including when Espial would not ordinarily be active in the market because of internal trading blackout periods, insider trading rules or otherwise. The plan will terminate on the earliest of: the date on which the purchase limits specified in the plan have been attained, the date on which the normal course issuer bid terminates or the date on which the plan is terminated by a party in accordance with its terms.

Espial believes the purchase of its common shares constitute an appropriate use of its general funds, which may increase shareholder value. The current strong cash position of Espial allows it to implement the repurchase plan without adversely impacting Espial's operations. In the past 12 months, Espial did not repurchase any common shares through a normal course issuer bid.

LINK:	http://espial.com/espial-announces-intention-make-normal-course-issuer...
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