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Article: CFM Majestic Inc. Announces Completion of Substantial Issuer Bid.
- Article from:
- Business Wire
- Article date:
- May 28, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MISSISSAUGA, Ontario--(BUSINESS WIRE)--May 28, 1996--CFM MAJESTIC INC.(TSE: CFM ) CFM Majestic Inc. ("CFM"), announced today the completion of its substantial issuer bid to purchase 3,400,000 of its outstanding common shares at a price of Cdn. $7.535 per share in cash. The mailing of the offer to shareholders was previously announced on May 3, 1996.
Mr. Heinz Rieger and Mr. Po-Yen Su, two of the founding shareholders of CFM, each tendered 1,700,000 common shares to CFM under the offer pursuant to agreements which they had entered into with CFM prior to the making of the issuer bid. As anticipated, in light of the current market price of the CFM common shares ...