Global Thermoelectric Announces Issuer Bid
Global Thermoelectric Inc. (Calgary, Canada) announced that it has been approved for a final notice of intention to make a normal course issuer bid by the Toronto Stock Exchange (TSX). Global intends to make normal course purchases of certain outstanding common shares on the terms set forth in the notice through the facilities of the TSX.
Under the rules of the TSX, during the period commencing on December 5, 2002, and ending on December 1, 2003, Global may acquire up to 1,458,584 common shares of Global, being five percent of its issued and outstanding common shares. Any common shares purchased pursuant to the notice will be purchased at the market price of the common shares at the time of purchase and will be purchased on behalf of Global by a registered investment dealer through the facilities of the TSX. Any common shares purchased pursuant to the notice will be cancelled and returned to treasury.