| TORONTO, ONTARIO (September 28, 2000) -- Vitran
Corporation Inc. (TSE: VTN.A,
AMEX: VVN), a North American
transportation and logistics firm, today announced its intention, subject to the approval
of The Toronto Stock Exchange, to commence a normal course issuer bid to acquire up to
493,909 shares (approximately 5%) of its outstanding Class A Voting Shares by way of open
market purchases through the facilities of, and in accordance with, the Rules and Policies
of The Toronto Stock Exchange. The Shares will be repurchased for cancellation. It is expected that the bid will commence October 2, 2000
and end October 1, 2001. As at September 16, 2000, Vitran had 9,878,178 Class A Voting
Shares outstanding. During its previous normal course issuer bid, which expired September
16,200, Vitran acquired 111,000 shares at an average price of $6.09 per share. Vitran's
management believes such purchases to be a prudent use of funds.
Vitran Corporation Inc. is a North American group
of transportation companies offering less-than-truckload, truckload, intermodal marketing,
truck brokerage and logistics services. Further Company information is available at http://www.vitran.com. |
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