Leon's Furniture Limited (LNF.TO) said Thursday it has received approval for a common share repurchase programme on The Toronto Stock Exchange.
The company said it plans to repurchase for cancellation a maximum of about 3.5 million common shares representing 4.99% of the total number of its issued and outstanding common shares as at August 31, 2012.
From September 10, 2011 to August 31, 2012 , Leon's purchased 130,362 common shares pursuant to a normal course issuer bid at an average purchase price of C$11.93.
Leon's said the bid will commence on September 10, 2012 and terminate on the earliest of the purchase of the nearly 3.5 million common shares, the issuer providing a notice of termination, and September 9, 2013.
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