Investor Information
News Releases - 2003
Home > Investors > News Releases > 2003 >Liquidation World Announces Regulatory Approval of a Normal Course Issuer Bid
Calgary, March 12, 2003
Liquidation World Inc. (LQW – TSX; LIQWF – Nasdaq) announces approval by the Toronto Stock Exchange to purchase up to 427,000 of its common shares by way of a normal course issuer bid made through the facilities of the Toronto Stock Exchange. The 427,000 shares represent approximately 5% of Liquidation World's 8,542,836 currently issued and outstanding common shares. The bid will commence March 13, 2003 and will terminate within 12 months. All shares purchased pursuant to the bid will be cancelled.
Liquidation World believes that its common shares are undervalued at current market prices, based on Liquidation World's current earnings and future prospects, and that the repurchase of common shares at current market prices is an appropriate use of corporate funds and should benefit shareholders. Liquidation World has purchased 39,100 of its common shares in the preceding 12 months.
Liquidation World is a liquidator of consumer merchandise through 95 outlets across North America. The Company conducts Auctions of a diverse range of merchandise and equipment in the Calgary and Edmonton, Alberta markets and through on-site auctions across North America. Liquidation World solves inventory problems, in a professional manner, for banks, receivers, insurance companies, manufacturers and other organizations, and is committed to providing its customers with outstanding value over a broad range of merchandise. Liquidation World opened its first outlet in 1986 and is now the largest liquidator in Canada, with more than 1,600 employees in outlets across Canada and the U.S.
For more information, please contact:
Dale Gillespie, C.E.O.
Andrew Searby, CA, Executive V.P. and Chief Financial Officer
E-mail: investorinfo@liquidationworld.com
Website: www.liquidationworld.com
Telephone: (403) 250-1222
Fax: (403) 291-1306