The Supreme Court decision removes uncertainty and allows Danier to build and grow its business. The Company had provided for this uncertainty and the $18 million provision less future income taxes of approximately $4.6 million was reversed and as a result shareholders' equity increased by approximately $2 per share.
During the first quarter of 2008, Danier repurchased 65,000 subordinate voting shares for cancellation under the Normal Course Issuer Bid. Since the bid commenced on April 23, 2007, Danier has repurchased a total of 189,500 shares for cancellation.
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