NEW YORK, May 22, 2012 /PRNewswire/ -- MFC Industrial Ltd. ("MFC") (NYSE: MIL) today announced that it will be extending its previously announced odd-lot share repurchase program, such that the repurchase program will now expire at the close of business on July 2, 2012.
Pursuant to the odd-lot share repurchase program, MFC has offered to buy back common shares from registered and beneficial shareholders of MFC who own 99 or fewer common shares as at March 30, 2012. The repurchase program affords eligible shareholders the opportunity to sell all, but not less than all, of their common shares or to continue to maintain their current holdings. The repurchase program commenced on April 9, 2012 and, with the extension, will expire at the close of business on July 2, 2012. Shareholders who elect to participate in the repurchase program will receive an amount equal to the weighted average of the closing prices of the common shares on the New York Stock Exchange during the extension period, being the period from May 22, 2012 until July 2, 2012, for each common share tendered. Shareholders will not incur any brokerage commissions if they elect to dispose of their common shares pursuant to the program. Questions regarding the repurchase program should be directed to Georgeson Inc. toll free at: 1 (888) 274 5157.
About MFC Industrial Ltd.
MFC is a global commodity supply chain company and is active in a broad spectrum of activities related to the integrated combination of commodities and resources, including commodity and resource interests, and structured finance, and proprietary investing. To obtain further information on MFC, please visit our website at: http://www.mfcindustrial.com.
SOURCE MFC Industrial Ltd.