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MDA announces the completion of its Substantial Issuer Bid

^{Published on 2011-10-05 14:19:04 - Market Wire}
 

RICHMOND, BC, Oct. 5, 2011 /CNW/ - MacDonald, Dettwiler and Associates Ltd. ([ TSX: MDA ]), a provider of essential information solutions, announced today that it is taking up and paying for 9,433,961 common shares at a price of $53.00 per common share under the Company's Substantial Issuer Bid to repurchase up to $500 million of its common shares. The shares being purchased represent approximately 22.9% of the common shares currently outstanding. After giving effect to the repurchase, the outstanding number of shares will be 31,773,447.

Shareholders had the opportunity under the terms of the Bid to tender shares until 5:00 p.m. EDT on October 4, 2011, through a Dutch auction process, at a price of their choice between $53.00 and $60.00. Alternatively, shareholders were entitled to make a purchase price tender.

The auction process was oversubscribed. As a result, shareholders who made an auction tender at a price at $53.00 or a purchase price tender will have 27% of their shares purchased by the Company. However, under the terms of the Bid, odd lots submitted at that price were purchased in their totality and adjustments were made to avoid creation of fractional shares.

The ownership of the shares not purchased by the Company under the Substantial Issuer Bid will not be affected by the transaction. Common shares tendered to the bid and not being purchased will be returned to shareholders as soon as possible.

Take-up and payment for all common shares validly deposited and accepted for purchase under the Substantial Issuer Bid will be made as soon as practicable in accordance with the terms thereof.

About MDA

MDA provides advanced information solutions that capture and process vast amounts of data, produce essential information, and improve the decision making and operational performance of business and government organizations worldwide.

Focused on markets and customers with strong repeat business potential, MDA delivers a broad spectrum of information solutions, ranging from complex operational systems, to tailored information services, to electronic information products.

The Company's common shares trade on the Toronto Stock Exchange under the symbol [ TSX:MDA ].

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Related Websites:
[ www.mdaco ][ rporation.com ]

Forward-Looking Statements

This press release may include certain forward-looking statements and information of MacDonald, Dettwiler and Associates Ltd. ("MDA" or the "Company").  These forward-looking statements include, but are not limited to, MDA's plans, objectives, expectations and intentions, including MDA's expectations regarding the  completion of the  substantial issuer bid, and other statements contained in this press release that are not historical facts. These forward-looking statements are typically identified by future or conditional verbs or words such as "outlook", "believe", "anticipate", "estimate", "project", "expect", "intend", "plan", and terms and expressions of similar import. These statements are based on MDA's current beliefs or expectations, including MDA's assumptions, beliefs and expectations regarding market conditions. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of MDA. MDA's expectations and future intentions may differ materially from those expressed or implied by such forward looking statements, including as a result of changes in global, political, economic, business, competitive, market and regulatory factors, and the other risks described in MDA's 2010 Annual Report, in other filings with Canadian securities regulators and in other communications.

For additional information with respect to certain of these risks or factors, plus additional risks or factors, reference should be made to the Company's continuous disclosure materials filed from time to time with Canadian securities regulatory authorities, which are available online at [ www.sedar.com ] or on the Company's website at [ www.mdacorporation.com ].

The Toronto Stock Exchange has neither approved nor disapproved the form or content of this release.