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Contrans Announces Normal Course Issuer Bid

(TSX:CSS)

WOODSTOCK, ON, March 13, 2014 /CNW/ - Contrans Group Inc. ("Contrans") announced today that it intends to make a normal course issuer bid to purchase, through the facilities of the Toronto Stock Exchange ("TSX"), certain of its outstanding Class A Subordinate Voting Shares ("Class A Shares").  As at March 10, 2014, there were 32,524,635 Class A Shares issued and outstanding.

The number of Class A Shares to be purchased during the period of the normal course issuer bid (the "Bid") from March 17, 2014 to March 16, 2015 will not exceed 1,711,197 Class A Shares, being approximately 10% of the public float outstanding as of March 10, 2014.  Daily purchases will be limited to 8,658 Class A Shares, other than block purchase exceptions.  All purchases made pursuant to the NCIB will be made through the facilities of the TSX or alternative Canadian trading platforms.  Class A Shares purchased pursuant to the Bid will be cancelled.

The Bid has been authorized by the Board of Directors to allow Contrans to purchase Class A Shares if, in the opinion of its management, the purchases can be made on terms which will enhance the value of its remaining shares.

SOURCE Contrans Group Inc.

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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