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Montreal, December 18, 2007 – Transcontinental
Inc. has been authorized to purchase for cancellation on the
open market, between December 20, 2007 and December 19, 2008,
up to 3 333 994 of its Class A Subordinate Voting
Shares, representing 5% of the 66 679 889 issued
and outstanding Class A Subordinate Voting Shares as of December
10, 2007, and up to 845 271 of its Class B Shares, representing
5% of the 16 905 432 issued and outstanding Class
B Shares as of December 10, 2007. The average daily trading
volume on the Toronto Stock Exchange of Class A Subordinate
Voting Shares for the past six months was 110 690 and the
average daily trading volume on the Toronto Stock Exchange
of Class B Shares for the past six months was 397. Accordingly,
Transcontinental Inc. is entitled to purchase, when aggregated
with all other purchases during the same trading day, not
more than 25% of the average daily trading volume for the
past six months on any trading day of Class A Subordinate
Voting Shares, being 27 672 Class A subordinate Voting
Shares and up to 1000 Class B Shares. The purchases will
be made in the normal course of business at market prices
through the facilities of the Toronto Stock Exchange in accordance
with the requirements of the exchange. During the period from
November 21, 2006 to November 20, 2007, Transcontinental Inc.
has purchased 2 342 500 Class A Subordinate Voting
Shares at an average price of $21.26 and 141 800 Class B
Shares at an average price of $21.64.
The Corporation has determined that the purchase of its Class A
Subordinate Voting Shares and Class B Shares will allow it
to optimize its capital structure and to create long-term
value for shareholders.
Profile
The largest printer in Canada and sixth-largest in North America,
Transcontinental is the country’s leading publisher
of consumer magazines and French-language educational resources,
and its second-largest community newspaper publisher. Transcontinental
distinguishes itself by creating strategic partnerships that
integrate the company into its customers’ value chain,
notably through its unique newspaper printing outsourcing
model and its value-added services. From mass to highly personalized
marketing, the company offers its clients integrated solutions
which include a continent-leading direct marketing offering,
a diverse digital platform and a door-to-door advertising
material distribution network. Transcontinental is a company
whose values, including respect, innovation and integrity,
are central to its operation.
Transcontinental (TSX: TCL.A, TCL.B) has more than 15,000 employees
in Canada, the United States and Mexico, and reported revenues
of C$2.3 billion in 2007.
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For information:
Media
Nessa Prendergast
Director, Media Relations
Transcontinental Inc.
Telephone: (514) 954 2809
nessa.prendergast@transcontinental.ca
Financial Community
Jennifer F. McCaughey
Director, Investor Relations
Transcontinental Inc.
Telephone: (514) 954 2821
jennifer.mccaughey@transcontinental.ca
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