Easyhome gets OK to buy back shares
By Furniture Today Staff -- Furniture Today, March 25, 2007
Toronto — Easyhome has announced that the Toronto Stock Exchange has approved its normal course issue bid, giving the company approval to buy some of its stock.
The bid will permit the lease-to-own furniture and appliance merchant to purchase as many as 270,000 of its own common shares, or approximately 5% of the outstanding public float. The purchases will be made through the TSX.
The bid began March 22 and will end on March 21, 2008.
In a statement the company said: "The board of directors of Easyhome Ltd. believes that the proposed purchases are in the best interests of Easyhome Ltd. and are a desirable use of corporate funds. All common shares purchased by Easyhome pursuant to the NCIB will be cancelled."
Easyhome has 190 stores in Canada and recently reported 2006 sales of C$119.6 million, a 16% gain over the prior year. The company said it plans to enter the U.S. market later this year.
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