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November 16, 1999 NYSE SYMBOL: ITP
T.S.E. SYMBOL: ITP
INTERTAPE POLYMER GROUP INC.
ANNOUNCES
STOCK REPURCHASE PROGRAM
Montreal, Quebec, Canada, November 16, 1999 -- Intertape Polymer Group Inc.
(NYSE & TSE: ITP) announced today that its Board of Directors authorized to
repurchase some of its common shares outstanding on the Toronto Stock
Exchange (TSE) and the New York Stock Exchange (NYSE), beginning November 17,
1999. The normal course issuer bid is subject to regulatory approval.
Under the bid, the Corporation may purchase for cancellation up to 1,419,738
shares. Intertape currently has 28,394,767 common shares presently
outstanding, and therefore this would represent approximately 5% of today's
outstanding shares. These purchases shall be made in accordance with
applicable regulations over a maximum period of 12 months beginning on
November 17, 1999 and ending on November 16, 2000. The Corporation has not
made a normal course issuer bid within the past 12 months.
Melbourne F. Yull, Intertape's Chairman and Chief Executive Officer stated:
"We believe that the purchase by the Corporation of its own shares may, in
appropriate circumstances, be a responsible investment of funds on hand.
Depending on market conditions, any purchases made will be made on that
basis."
Intertape Polymer Group Inc. develops, manufacturers and markets a wide
variety of specialized polyolefin plastic and paper based packaging products
and systems for industrial uses. The Company is based in Montreal, Quebec and
Sarasota, Florida with manufacturing facilities in seventeen North American
and European locations.
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FOR FURTHER INFORMATION CONTACT: Melbourne F. Yull
Chairman and Chief Executive Officer
Intertape Polymer Group Inc.
Tel: (514) 731-0731
E-mail: [email protected]
Web: www.intertapepolymer.com
EXCEPT FOR HISTORICAL INFORMATION CONTAINED HEREIN, STATEMENTS IN THE RELEASE
ARE FORWARD-LOOKING STATEMENTS THAT ARE MADE PURSUANT TO THE SAFE HARBOR
PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
FORWARD-LOOKING STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS AND UNCERTAINTIES,
WHICH MAY CAUSE THE COMPANY'S ACTUAL RESULTS IN FUTURE PERIODS TO DIFFER
MATERIALLY FROM FORECASTED RESULTS. THOSE RISKS INCLUDE, BUT ARE NOT LIMITED
TO, RISKS ASSOCIATED WITH PRICING, VOLUME AND CONDITIONS OF MARKETS. THOSE
AND OTHER RISKS ARE DESCRIBED IN THE COMPANY'S FILINGS WITH THE SECURITIES
AND EXCHANGE COMMISSION (SEC) OVER THE LAST TWELVE MONTHS, COPIES OF WHICH
ARE AVAILABLE FROM THE SEC OR MAY BE OBTAINED UPON REQUEST FROM THE COMPANY.
