NEW YORK (GenomeWeb News) – MDS said today that it has notified the Toronto Stock Exchange that it may purchase up to roughly 5 percent of the float of its public stock on the TSE and New York Stock Exchange during the next year.
The Toronto-based firm said that during the 12 months commencing July 3, 2008, and ending July 2, 2009, it may purchase up to 4,136,766 MDS common shares on the two exchanges.
As of June 20, MDS said there were around 122 million common shares issued and outstanding and 82.7 million common shares in the public float. MDS said that all shares purchased by the firm under the “normal course issuer bid” will be promptly cancelled. It noted that its daily purchases will be limited to 130,250 common shares, other than block purchase exceptions.
During the past year, MDS purchased and cancelled 1.2 million common shares under a previous normal course issuer bid.