An anonymous director reports
CE FRANKLIN LTD. RENEWS NORMAL COURSE ISSUER BID FOR ITS COMMON SHARES
CE Franklin Ltd.'s board of directors has authorized the renewal
of the company's normal course issuer bid. Under the renewed
bid, CE Franklin may purchase for cancellation up to 850,000 of its
common shares without par value, being approximately
5 per cent of the total number of common shares outstanding as of the date
hereof, from time to time in open market or privately negotiated
transactions. The share repurchases will be conducted solely through
the facilities of the Nasdaq Stock Market and are subject to prevailing market conditions
and other considerations.
CE Franklin has purchased 3,102 common shares for cancellation under its
existing bid, which will expire on Dec. 31, 2011, and has purchased
615,479 common shares under its previous bid programs. Purchases
under the renewed bid may commence on Jan. 3, 2012, and be made
until Dec. 31, 2012.
We seek Safe Harbor.
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