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Senvest Capital Inc. Announces Acceptance by TSX of Normal Course Issuer Bid

  //business-finance.news-articles.net/content/200 .. ceptance-by-tsx-of-normal-course-issuer-bid.html
  Published in Business and Finance on Thursday, June 18th 2009 at 14:19 GMT, Last Modified on 2009-06-18 14:19:49 by Market Wire
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 MONTREAL, June 18 /CNW Telbec/ - Senvest Capital Inc. (the "Corporation") (TSX: SEC) announced today the acceptance by the Toronto Stock Exchange (the "TSX") of the Corporation's Notice of Intention to make a normal course issuer bid (the "NCIB"). Pursuant to the NCIB, the Corporation proposes to purchase through the facilities of the TSX from time to time, if considered advisable, up to an aggregate of 130,000 of its common shares, being approximately 5% of its 2,618,624 issued and outstanding common shares as of the date hereof. Purchases may commence through the TSX on June 23, 2008 and will conclude on the earlier of the date on which purchases under the bid have been completed and June 22, 2009. The average daily trading volume of the Corporation's common shares over the most recently completed six calendar months was 84 common shares. Accordingly, the Corporation is entitled to purchase, on any trading day, up to 1,000 common shares. Moreover, the Corporation is entitled, no more frequently than once per calendar week, to make block purchases of its common shares which exceed such daily limit. The Corporation wishes to take advantage of the market trading prices of its common shares from time to time. It is the opinion of management that, from time to time, the market price of its common shares does not adequately reflect the value of the underlying assets of the Corporation. The Board of Directors of the Corporation believes that the proposed purchases may be in the best interests of the Corporation and may constitute a désirable use of corporate funds. AH common shares purchased by the Corporation pursuant to the NCIB will be cancelled. On June 21, 2007, the Corporation commenced a normal course issuer bid to purchase up to 131,000 common shares through the facilities of the TSX. Under that bid, which is scheduled to expire on June 20, 2008, the Corporation purchased and cancelled a total of 30,900 of its common shares at a weighted average price of $39.20 per common share. Senvest Capital Inc. and its subsidiaries have business activities in merchant banking, asset management, real estate and electronic security. 

For further information: Mr. George Malikotsis, Vice-Président, Finance of Senvest Capital Inc, (514) 281-8082