JumpTV Inc. Announces Commencement of Normal Course Issuer Bid
TORONTO--(Marketwire - August 21, 2007) - JumpTV Inc. (TSX: JTV) (AIM:
JTV) announced today that it is commencing a normal course issuer bid
for up to 1,500,000 common shares of the company, representing
approximately 3.1% of the company's issued and outstanding common
shares.
JumpTV believes that its common shares have been trading at prices
that do not adequately reflect their value in relation to its business
and its future business prospects.
The company's normal course issuer bid shall commence August 23, 2007
and terminate on August 22, 2008, unless earlier terminated by the
company. Common shares purchased under the normal course issuer bid
will be cancelled.
The price that JumpTV will pay for any such common shares will be the
market price at the time of acquisition. Management of JumpTV will
determine the actual number of common shares that may be purchased and
the timing of any such purchases, subject to compliance with TSX
guidelines.
The maximum number of common shares that may be purchased on a daily
basis, subject to any approved exceptions, shall be 45,903 common
shares. The company has 48,772,266 common shares outstanding as at
July 31, 2007. The bid has been approved by the TSX, and shall be
effected through the facilities of the TSX.
GMP Securities L.P. will conduct the bid on behalf of the company.
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