CALGARY, ALBERTA--(Marketwire - Sept. 7, 2012) - PFB Corporation (TSX:PFB) (the "Company") announced today that it will be proceeding with a normal course issuer bid to purchase, through the facilities of the Toronto Stock Exchange (TSX), up to a maximum of 100,000 of its common shares, representing 1.5% of PFB Corporation's issued and outstanding common shares, which, as of the date hereof, is 6,764,203, subject to a daily maximum of 1,000 common shares. Purchases by PFB Corporation can commence on September 11, 2012 and will end no later than September 10, 2013.
PFB Corporation will pay the market price for its common shares on the TSX at the time of acquisition and no purchases will be made other than by means of open market transactions during the period the normal course issuer bid is outstanding. PFB Corporation purchased 5,000 Common Shares at an average weighted price of $5.13 per share during the past 12 months under their current normal course issuer bid which ended on September 5, 2012.
PFB Corporation believes that the common shares may from time to time be undervalued and may not reflect the financial strength and net asset value of the Company. All common shares purchased under the issuer bid will be cancelled, increasing the respective proportionate share interests of all remaining shareholders. The funding for any purchases of Common Shares pursuant to the normal course issuer bid will be financed out of working capital.
PFB Corporation is a vertically integrated manufacturer of insulating building products that are marketed across North America under five brands. Plasti-Fab, EPS Product Solutions® are products, manufactured using expanded polystyrene (EPS) as base raw materials, that are delivered to customers in five segmented markets. Advantage ICF Systems® are insulating concrete forming systems that are employed to build insulated foundations and walls from concrete in both residential and commercial markets. Insulspan® Structural Insulating Panels Systems (SIPS) are used to create a building's structural wall frame and to replaces trusses on roof systems to form an energy-efficient structural envelope. Riverbend® Timber Framing manufactures and sells precision-cut, custom-crafted solid timbers to exacting standards which are delivered to customer's jobsites as ready-to-assemble building packages in conjunction with Insulspan SIPS for the walls and roof, and Advantage ICFS for the building's foundations. Precision Craft® manufactures timber frame and log structures that are designed by Mountain Architects LLC, and installed by PC Design Build LLC.