This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:BMO plans to buy back 15 million shares 2009-10-27 17:50 ET - News Release Mr. Ralph Marranca reports BANK OF MONTREAL ANNOUNCES INTENTION TO RENEW ITS NORMAL COURSE ISSUER BID Bank of Montreal intends, subject to the approval of the Office of the Superintendent of Financial Institutions (OSFI) and the Toronto Stock Exchange, to renew its normal course issuer bid through the facilities of the Toronto Stock Exchange. Bank of Montreal intends to file a notice of intention with the Toronto Stock Exchange in this regard.
The notice will provide that the bank may purchase for cancellation on the Toronto Stock Exchange up to 15 million common shares, being approximately 3.0 per cent of the public float, over a one-year period. The period would begin once all required approvals have been obtained. The actual number of common shares that may be purchased and the timing of any such purchases will be determined by the bank. The bank will pay the market price for the shares at the time of acquisition. The bank will only initiate purchases under the bid after consulting with OSFI.
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