MDS Inc. Announces Results of Share Buyback
09 Aprile 2007 - 2:00PM
PR Newswire (US)
TORONTO, April 9 /PRNewswire-FirstCall/ -- MDS Inc. (NYSE:MDZ; TSX:
MDS), a leading provider of products and services to the global
life sciences markets, announced today the preliminary results of
its substantial issuer bid, which expired at 5:00 p.m. EST on April
5, 2007. Based on these results, MDS Inc. has accepted for purchase
and cancellation 22,831,050 common shares at a purchase price of
C$21.90 per share, totaling C$500 million in accordance with the
terms of the bid. These shares represent 15.8% of the common shares
currently outstanding. After the planned repurchase, the number of
common shares outstanding will be approximately 121.9 million.
Approximately 22.8 million common shares were tendered to the bid
at prices at or below the purchase price of $21.90 per share. After
the purchase of odd lots, the common shares will be taken up on a
pro rata basis such that shareholders, who deposited common shares
at or below the purchase price of $21.90 per share, will have
approximately 99.9% of the common shares they tendered purchased
for cancellation. Payment and settlement will be effected by
Clearing Depository Services in accordance with its settlement
procedures and the terms of the bid commencing on or about April
13, 2007. Tax Information For Canadian tax purposes a deemed
dividend of $16.75 per share would arise on this share buyback. For
the enhanced dividend tax credit under subsection 89(14) of the
Income Tax Act (Canada) and for any corresponding provincial
legislation, MDS designates $16.71 per share as an "eligible
dividend" with the remaining $0.04 per share representing a
"non-eligible dividend". For purposes of subsection 191(4) of the
Income Tax Act (Canada), the specified amount in respect of the
shares purchased under this buyback is $21.76. RBC Capital Markets
acted as dealer manager and financial advisor in connection with
the substantial issuer bid. About MDS Inc. MDS Inc. (TSX: MDS;
NYSE: MDZ) is a global life sciences company that provides
market-leading products and services that our customers need for
the development of drugs and diagnosis and treatment of disease. We
are a leading global provider of pharmaceutical contract research,
medical isotopes for molecular imaging, radiotherapeutics, and
analytical instruments. MDS has more than 6,200 highly skilled
people in 28 countries. Find out more at http://www.mdsinc.com/ or
by calling 1-888-MDS-7222, 24 hours a day. DATASOURCE: MDS Inc.
CONTACT: Investors: Sharon Mathers, Senior Vice-President, Investor
Relations and External Communications, MDS Inc., (416) 675-6777
x34721, ; Media: Catherine Melville, Director, External
Communications, MDS Inc., (416) 675-6777 x32265,
Copyright