Notice of intention to make normal course issuer bid
Winnipeg, Manitoba
September 7, 2001
Buhler intends to make a Normal Course Issuer Bid for its common shares, subject to regulatory approval. The company intends to acquire up to a maximum of 1,190,000 common shares of the company, representing 5 percent of its issued and outstanding common shares.
Each purchase is to be made through the facilities of the Toronto Stock Exchange in accordance with their policy on Normal Course Issuer Bids. Accordingly, the price the company will pay for any common shares will be the market price at the time of acquisition. The bid will commence two trading days after acceptance by the exchange of Buhler’s final notice and will terminate no later than 12 months thereafter.
During the 12 months, the company has purchased 698,500 outstanding common shares for cancellation at an average cost of $3.36. Considering the current market valuation of the company’s common shares, the Board of Directors believes that the timing is right for such issuer bid. It should also improve return on equity. Furthermore, it clearly shows management confidence in the company and in its growth potential. According to Craig Engel, Chief Operating Officer of Buhler, "It is in the best interest of the company and its shareholders to proceed with this Normal Course Issuer Bid."
Contact: Craig Engel (204) 228-6206
Email: cengel@buhler.com