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Press Information:
Toronto - August 3, 2005
ACCORD FINANCIAL CORP.
Accord Announces Normal Course Issuer Bid
Accord Financial Corp. (TSX – ACD),
a leading North American provider of a wide range of
factoring and other asset-based financial services to
businesses, including financing, collection services,
credit investigation, credit protection and guarantees,
today announced that the Toronto Stock Exchange (the
“TSX”) has accepted for filing a Notice
of Intention to Make a Normal Course Issuer Bid (the
“Bid”). Pursuant to the Bid, the Company
may purchase up to 497,278 common shares during the
next 12 months being 5% of the 9,945,571 issued and
outstanding common shares as at July 31, 2005. Any shares
purchased pursuant to the Bid will be cancelled. All
purchases will be made through facilities of the TSX
and in accordance with the TSX’s rules and policies.
The Bid will commence on August 5, 2005 and terminate
on the earlier of the date on which the Company completes
its purchases pursuant to the Bid or August 4, 2006.
The Company believes that it may be advantageous to
engage in repurchases of its common shares, from time
to time, when they are trading at prices which the Company
believes reflect a significant discount from the underlying
value of its common shares.
For further information please contact:
Stuart Adair
Chief Financial Officer
Accord Financial Corp.
77 Bloor Street West, 18th floor
Toronto, ON M5S 1M2
(416) 961-0304 Ext. 207
info@accordfinancial.com
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