|By Marketwired .||
|July 11, 2014 11:29 AM EDT||
WINNIPEG, MANITOBA -- (Marketwired) -- 07/11/14 -- Gendis Inc. (TSX: GDS) intends to purchase a maximum of 500,000 of its Common shares, being 3.8% percent of the 13,236,986 issued and outstanding Common shares as at July 9, 2014. Purchases may commence on July 15, 2014 and will terminate no later than July 14, 2015.
Purchases of Common shares may be made through the facilities of the TSX, registered exchanges and alternative trading systems in Canada. The purchase and payment for the Common shares purchased will be made by Gendis Inc. in accordance with the requirements of The Toronto Stock Exchange and the price which Gendis Inc. will pay for any such Common shares will be the market price of such Common shares at the time of acquisition. Daily purchases will be limited to 1,000 Common shares, other than block purchase exceptions. Common shares purchased pursuant to this Notice will be cancelled.
Gendis Inc. will make no purchases of Common shares other than open market purchases.
From time to time, the market price of the Common shares of Gendis Inc. may not adequately reflect the value of Gendis' business and its future business prospects.
No director or senior officer of Gendis Inc. intends to sell Common shares of Gendis Inc. during the period of this Notice. To the knowledge of the Company, no associate of a director or senior officer of Gendis Inc., and no person acting jointly or in concert with Gendis Inc. and no person holding ten (10%) percent or more of any class of equity securities of Gendis Inc. intends to sell Common shares of Gendis Inc. during the period of this Notice.
During the last twelve months to July 8, 2014, Gendis Inc. has purchased 500,000 Common shares at an average price of $3.41 per Common share pursuant to a Normal Course Issuer Bid that commenced July 9, 2013 and expired July 8, 2014.
Mr. James E. Cohen
President & Chief Executive Officer