TORONTO, Ontario (May 30, 2003) -MDC Corporation Inc. (“MDC”) of Toronto announced today that The Toronto Stock Exchange (the “Exchange”) has accepted a notice filed by MDC of its intention to make a normal course issuer bid.
The notice provides that MDC may, during the 12 month period commencing June 3, 2003 and ending June 2, 2004 purchase for cancellation up to a total of 1,269,889 Class A subordinate voting shares being approximately 10% of the public float of 12,698,895 Class A subordinate voting shares. The price which MDC will pay for any such shares will be the market price at the time of acquisition. The actual number of Class A subordinate voting shares which may be purchased and the timing of any such purchases will be determined by management of MDC. There are approximately 16,464,871 Class A Subordinate Voting Shares and 450,470 Class B multiple voting shares outstanding.
MDC has not purchased any of its Class A subordinate voting shares within the twelve months preceding the date of the notice.
About MDC Corporation Inc. (“MDC”)
MDC is a publicly traded international business services organization with operating units in Canada, the United States, United Kingdom and Australia. MDC provides marketing communication services, through Maxxcom, and offers security sensitive transaction products and services in four primary areas: personalized transaction products such as personal and business cheques; electronic transaction products such as credit, debit, telephone & smart cards; secure ticketing products, such as airline, transit and event tickets, and stamps, both postal and excise. MDC shares are traded on the Toronto Stock Exchange under the symbol MDZ.A and on NASDAQ National Market under the symbol MDCA.
About Maxxcom Inc. (“Maxxcom”)
Maxxcom, a subsidiary of MDC, is a multi-national business services company with operating units in Canada, the United States and the United Kingdom. Maxxcom is built around entrepreneurial partner firms that provide a comprehensive range of communications services to clients in North America and the United Kingdom. Services include advertising, direct marketing, database management, sales promotion, corporate communications, marketing research, corporate identity and branding, and interactive marketing. Maxxcom shares are traded on the Toronto Stock Exchange under the symbol MXX.