TransForce Inc. Announces Normal Course Issuer Bid Intention
Montreal, March 12, 2009 – TransForce Inc. (“TransForce” or “the Company”) (TSX: TFI - T), the
leader in the Canadian transportation and logistics industry, today announced its intention to
repurchase certain of its issued and outstanding common shares (the “Shares”) pursuant to a
normal course issuer bid (the “Bid”). The Bid is subject to the approval of the Toronto Stock
Exchange (“TSX”) and TransForce will file shortly with the TSX a notice to commence the Bid on or
about March 16, 2009. TransForce’s intention is to purchase for cancellation up to a maximum of
5,000,000 Shares, representing 7.5% of the 67,025,606 Shares forming the unrestricted
public-float of the Company, over a twelve-month period at the prevailing market price of the
Shares at the time of such purchases. There are currently a total of 86,790,097 Shares issued and
outstanding. The actual number of Shares that may be purchased and the timing of any such
purchases will be determined by TransForce. All purchases will be made through the facilities of the
TSX in accordance with the rules and policies of the TSX.
In the opinion of the board of directors of the Company, the Shares have been trading in a price
range which does not adequately reflect the value of the Shares based on TransForce’s business and
strong financial position and are driving an unusually high yield. As a result, TransForce believes
that, at appropriate times, repurchases through the Bid can enhance shareholder value and
represents an attractive investment and an appropriate use of TransForce’s financial resources.
To the knowledge of TransForce, no director or senior officer, including the CEO, no person acting
jointly or in concert with TransForce and no person holding 10% or more of any Shares of
TransForce currently intends to sell Shares during the course of the Bid. However, sales by such
persons through the facilities of the TSX may occur if any such person makes a decision unrelated
to the Bid. The benefits to any such person whose Shares are purchased would be the same as the
benefits available to all other holders whose Shares are purchased under the Bid.
TransForce has not purchased any Shares pursuant to a normal course issuer bid during the
preceding 12 months.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor shall there be any sale of the securities in any state or other jurisdiction in which
such offer, solicitation or sale would be unlawful.