Skip to main content

Aecon announces exercise of over-allotment option

Apr 18, 2006

Toronto, Ontario – April 18, 2006: Aecon Group Inc. (TSX:ARE) announced today that the over-allotment option granted to the underwriters in connection with the company's previously announced public offering of common shares was exercised in respect of 180,000 shares. The exercise of the over-allotment at $6.25 per share produced additional gross proceeds of $1,125,000, bringing the aggregate gross proceeds to Aecon under the offering to $29,250,000.

The issue and sale of 4,500,000 common shares was completed on March 17, 2006 on a bought deal basis through a syndicate of underwriters led by National Bank Financial Inc. and GMP Securities L.P. and including Paradigm Capital Inc. and Raymond James Ltd.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Aecon Group Inc. is Canada's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout Canada and internationally. The Company's shares are listed for trading on the Toronto Stock Exchange under the symbol ARE.