Andrew Peller Limited Announces Intention to Make A Normal Course Issuer Bid
10 Marzo 2011 - 7:00AM
Marketwired
Andrew Peller Limited (TSX: ADW.A)(TSX: ADW.B) (the "Company")
announced today that it has filed a Notice of Intention to make a
normal course issuer bid with the Toronto Stock Exchange. Under the
bid, which is subject to acceptance by the Toronto Stock Exchange,
the Company will have the right to purchase for cancellation up to
a maximum of 594,412 of its Class A Non-Voting Shares (the "Class A
Shares") through the facilities of the Toronto Stock Exchange. This
amount represents 5% of the Company's 11,888,241 issued and
outstanding Class A shares as of March 9, 2011. Daily purchases
will be limited to 1,218 Class A Shares, other than block purchase
exceptions. Purchases made pursuant to the bid will be made in the
open market through the facilities of the Toronto Stock Exchange.
The Company is proposing to commence the bid on March 14, 2011
and have it remain in effect until the earlier of March 13, 2012 or
the date on which the Company has purchased the maximum number of
Class A Shares permitted under the bid. Class A Shares purchased by
the Company pursuant to the bid will be cancelled.
The Company has not purchased any Class A Shares during the
previous year pursuant to any issuer bid.
The Company intends to make the bid because it believes that
Class A Shares may become available during the period of the bid at
prices that would make the purchase of such Class A Shares for
cancellation in the best interests of the Company and its
shareholders.
About Andrew Peller Limited
Andrew Peller Limited is a leading producer and marketer of
quality wines in Canada. With wineries in British Columbia, Ontario
and Nova Scotia, the Company markets wines produced from grapes
grown in Ontario's Niagara Peninsula, British Columbia's Okanagan
and Similkameen Valleys and from vineyards around the world. The
Company's award-winning premium and ultra-premium VQA brands
include Peller Estates, Trius, Hillebrand, Thirty Bench, Sandhill,
Calona Vineyards Artist Series and Red Rooster. Complementing these
premium brands are a number of popularly priced varietal wine
brands including Peller Estates French Cross in the East, Peller
Estates Proprietors Reserve in the West, Copper Moon, XOXO and Croc
Crossing. Hochtaler, Domaine D'Or, Schloss Laderheim, Royal and
Sommet are our key value priced wine blends. The Company imports
wines from major wine regions around the world to blend with
domestic wine to craft these popularly priced and value priced wine
brands. With a focus on serving the needs of all wine consumers,
the Company produces and markets premium personal winemaking
products through its wholly-owned subsidiary, Global Vintners Inc.,
the recognized world leader in personal winemaking products. Global
Vintners distributes products through over 250 Winexpert and Wine
Kitz authorized retailers and franchisees and more than 600
independent retailers across Canada, United States, United Kingdom,
New Zealand and Australia. Global Vintners award-winning premium
and ultra-premium winemaking brands include Selection, Vintners
Reserve, Island Mist, Kenridge, Cheeky Monkey, Ultimate Estate
Reserve, Traditional Vintage and Artful Winemaker. The Company owns
and operates more than 100 well-positioned independent retail
locations in Ontario under the Vineyards Estate Wines, Aisle 43 and
WineCountry Vintners store names. The Company also owns Grady Wine
Marketing Inc. based in Vancouver, and The Small Winemaker's
Collection Inc. based in Ontario; both of these wine agencies are
importers of premium wines from around the world and are marketing
agents for these fine wines. The Company's products are sold
predominantly in Canada with a focus on export sales for our
icewine products.
The Company's common shares trade on the Toronto Stock Exchange
(symbols ADW.A and ADW.B).
Certain statements in this news release may contain
"forward-looking statements" within the meaning of applicable
securities laws, including the "safe harbour provision" of the
Securities Act (Ontario) with respect to Andrew Peller Limited (the
"Company") and its subsidiaries. Such statements include, but are
not limited to, statements about the growth of the business in
light of the Company's recent acquisitions; its launch of new
premium wines; sales trends in foreign markets; its supply of
domestically grown grapes; and current economic conditions. These
statements are subject to certain risks, assumptions and
uncertainties that could cause actual results to differ materially
from those included in the forward-looking statements. The words
"believe", "plan", "intend", "estimate", "expect" or "anticipate"
and similar expressions, as well as future or conditional verbs
such as "will", "should", "would" and "could" often identify
forward-looking statements. We have based these forward-looking
statements on our current views with respect to future events and
financial performance. With respect to forward-looking statements
contained in this news release, the Company has made assumptions
and applied certain factors regarding, among other things: future
grape, glass bottle and wine prices; its ability to obtain grapes,
imported wine, glass and its ability to obtain other raw materials;
fluctuations in the U.S./Canadian dollar exchange rates; its
ability to market products successfully to its anticipated
customers; the trade balance within the domestic Canadian wine
market; market trends; reliance on key personnel; protection of its
intellectual property rights; the economic environment; the
regulatory requirements regarding producing, marketing, advertising
and labelling its products; the regulation of liquor distribution
and retailing in Ontario; and the impact of increasing
competition.
These forward-looking statements are also subject to the risks
and uncertainties discussed in this news release, in the "Risk
Factors" section and elsewhere in the Company's MD&A and other
risks detailed from time to time in the publicly filed disclosure
documents of Andrew Peller Limited which are available at
www.sedar.com. Forward-looking statements are not guarantees of
future performance and involve risks, uncertainties and assumptions
which could cause actual results to differ materially from those
conclusions, forecasts or projections anticipated in these
forward-looking statements. Because of these risks, uncertainties
and assumptions, you should not place undue reliance on these
forward-looking statements. The Company's forward-looking
statements are made only as of the date of this news release, and
except as required by applicable law, the Company undertakes no
obligation to update or revise these forward-looking statements to
reflect new information, future events or circumstances or
otherwise.
Contacts: Andrew Peller Limited Mr. Peter Patchet CFO and EVP
Human Resources (905) 643-4131 Ext. 2210
peter.patchet@andrewpeller.com
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