TORONTO, June 30 /PRNewswire-FirstCall/ - MDS Inc. (TSX: MDS, NYSE: MDZ),a leading provider of enabling products and services to the global lifesciences markets, announced today that the Toronto Stock Exchange (TSX)accepted the Company's Notice of Intention to make a normal course issuer bidfor a one-year period.
The Notice provides that during the twelve months commencing July 3, 2008and ending July 2, 2009, if deemed appropriate by the Chief Executive Officerand Chief Financial Officer of the Company, MDS may purchase up to 4,136,766MDS Common shares on the Toronto Stock Exchange and the New York StockExchange. This represents approximately 5% of the public float. At June 20,2008, there were 122,028,330 Common shares issued and outstanding and82,735,313 Common shares in the public float. All shares purchased by MDSunder this normal course issuer bid will be promptly cancelled. Dailypurchases will be limited to 130,250 Common shares, other than block purchaseexceptions.
Under the Company's previous normal course issuer bid, which began on July3, 2007 and ends on July 2, 2008, MDS has purchased and cancelled 1,235,300Common shares to date.
Since all purchases of MDS Common shares under the normal course issuerbid would be made on the open market, the Company is not in a position to knowthe identity of the parties from whom it may purchase Common shares. TheCompany believes that the purchase of outstanding Common shares at certaintimes during the normal course issuer bid period may enhance value forshareholders and is an appropriate use of funds.
This document contains forward-looking statements. Some forward-lookingstatements may be identified by words like "expects", "anticipates", "plans","intends", "indicates" or similar expressions. The statements are not aguarantee of future performance and are inherently subject to risks anduncertainties. The Company's actual results could differ materially from thosecurrently anticipated due to a number of factors, including, but not limitedto, successful integration of structural changes, including restructuringplans, acquisitions, technical or manufacturing or distribution issues, thecompetitive environment for the Company's products, the degree of marketpenetration of the Company's products, and other factors set forth in reportsand other documents filed by the Company with Canadian and US securitiesregulatory authorities from time to time.
MDS Inc. (TSX: MDS; NYSE: MDZ) is a global life sciences company thatprovides market-leading products and services for the development of drugs anddiagnosis and treatment of disease. We are a leading global provider ofpharmaceutical contract research, medical isotopes for molecular imaging,radiotherapeutics, and analytical instruments. MDS Inc. has more than 5,500highly skilled people in 29 countries. Find out more at www.mdsinc.com or bycalling 1-888-MDS-7222, 24 hours a day.
SOURCE MDS Inc.