In the past 12 months, STI purchased 399,089 Common Shares for cancellation at a weighted average price of $6.27 per share pursuant to its existing normal course issuer bid that expires on October 23, 2013.
The notice of intention provides that no appraisal or valuation regarding STI, its material assets or securities, has been prepared within the two years preceding the date of the notice.
To the knowledge of STI, no director, senior officer or other insider of STI currently intends to sell any Common Shares under the bid. However, sales by such persons through the facilities of the TSX may occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose Common Shares are purchased would be the same as the benefits available to all other security holders whose Common Shares are purchased.
AboutStudent Transportation Inc. (TSX:STB) (Nasdaq:STB) is North America's third largest and most innovative supplier of school bus transportation and management services. Founded in 1997, STI's family of local companies operates more than 10,000 vehicles and transports over 1 million students to and from school each day. STI has a long history of safe, reliable and cost-effective service delivered by drivers, dispatchers, maintenance technicians, terminal managers and others who are caring members of their local communities. For more information, please visit www.rideSTBus.com. Forward-Looking Statements Certain statements in this news release are "forward-looking statements" within the meaning of applicable securities laws, which reflect the expectations of management regarding, among other matters, STI's revenues, expense levels, cost of capital, financial leverage, seasonality, liquidity, profitability of new businesses acquired or secured through bids, borrowing availability, ability to renew or refinance various loan facilities as they become due, ability to execute STI's growth strategy and cash distributions, as well as their future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "will", "expect", "intend", "estimate", "anticipate", "believe", "should", "plans" or "continue" or similar expressions, and the negative forms thereof, suggesting future outcomes or events.
CONTACT: INVESTOR CONTACTS: Student Transportation Inc. Patrick J. Walker Executive Vice President and Chief Financial Officer Keith P. Engelbert Director of Investor Relations (843) 884-2720 Email: invest@rideSTBus.com Website: www.rideSTBus.com