easyhome Ltd. Announces Normal Course Issuer Bid
March 25, 2008 // Franchising.com // Toronto, Ontario – easyhome Ltd. (TSX: EH) today announced the acceptance by the Toronto Stock Exchange (the "TSX") of easyhome Ltd.'s Notice of Intention to Make a Normal Course Issuer Bid (the "NCIB"). Pursuant to the NCIB, easyhome Ltd. proposes to purchase, from time to time, if it is considered advisable, up to an aggregate of 200,000 Common Shares, being approximately 2% of easyhome Ltd.'s issued and outstanding Common Shares as of March 19, 2008. At the end of the day on March 19, 2008 easyhome Ltd. had 10,378,075 Common Shares issued and outstanding. The average daily trading volume of easyhome's Common Shares from September 1, 2007 until February 29, 2008 was 4,318. Purchases may commence through the TSX on March 27, 2008 and will conclude on the earlier of the date on which purchases under the bid have been completed and March 26, 2009. easyhome Ltd. did not purchase any Common Shares pursuant to its previous year's normal course issuer bid.
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 Ltd. pursuant to the NCIB will be cancelled.
easyhome Ltd., with 210 locations across Canada and the U.S. is Canada's largest merchandise leasing company and the third largest public merchandise leasing company in North America, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements. easyhome Ltd. is listed on the TSX under the symbol 'EH'.