UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For the month of May, 2010
Commission File Number 1-10928
INTERTAPE POLYMER GROUP INC.
9999 Cavendish Blvd., Suite 200, Ville St. Laurent, Quebec, Canada, H4M 2X5
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
Form 20-F
Form 40-F __X___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): __________
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): __________
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
INTERTAPE POLYMER GROUP INC.
Date: May 20, 2010
By: /s/ Burgess H. Hildreth_________________________
Burgess H. Hildreth, Vice President Human Resources
TSX SYMBOL: ITP
INTERTAPE POLYMER GROUP ANNOUNCES START OF NORMAL COURSE ISSUER BID
Montreal, Quebec and Bradenton, Florida, May 20, 2010 Intertape Polymer Group Inc. (TSX:ITP) announces that the Toronto Stock Exchange has approved Intertapes normal course issuer bid. Under the normal course issuer bid, Intertape is entitled to repurchase for cancellation up to 2,947,552 common shares over the twelve-month period starting on May 26, 2010 and ending on May 25, 2011, representing 5% of Intertapes issued and outstanding common shares as of May 20, 2010. The purchases by Intertape will be effected through the facilities of the Toronto Stock Exchange and all other applicable exchanges or trading systems in Canada and will be made at the market price of the common shares at the time of the purchase. There are 58,951,050 Intertape common shares issued and outstanding.
During the most recently-completed six months, the average daily trading volume for Intertapes common shares on the TSX was 59,221 shares. Consequently, under the requirements of the TSX, Intertape will have the right to repurchase, during any one trading day, a maximum of 14,805 common shares, representing 25% of the average daily trading volume. In addition, Intertape may make, once per calendar week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Intertape, in accordance with the requirements of the TSX.
The Board of Directors of Intertape considers that the repurchase of shares at certain market prices constitutes an appropriate use of financial resources and will be beneficial to Intertape and its shareholders.
Any purchases made pursuant to the normal course issuer bid will be made in accordance with the requirements of the Toronto Stock Exchange. Intertape will make no purchases of common shares other than open market purchases during the period of the normal course issuer bid. To the knowledge of Intertape, no director or officer of Intertape intends to sell Intertape shares while the normal course issuer bid is in effect.
During the last twelve months, Intertape did not purchase any shares pursuant to a normal course issuer bid.
About Intertape Polymer Group
Intertape Polymer Group is a recognized leader in the development and manufacture of specialized polyolefin plastic and paper based packaging products and complementary packaging systems for industrial and retail use. Headquartered in Montreal, Quebec and Sarasota/Bradenton, Florida, the Company employs approximately 2,000 employees with operations in 16 locations, including 13 manufacturing facilities in North America and one in Europe.
Safe Harbor Statement
Certain statements and information included in this press release constitute forward-looking information within the meaning of applicable Canadian securities legislation and the Federal
Private Securities Litigation Reform Act of 1995. Forward-looking statements may relate to the Companys future outlook and anticipated events, the Companys business, its operations, financial condition or results. Particularly, statements about the Companys objectives and strategies to achieve those objectives are forward-looking statements. While these statements are based on certain factors and assumptions which management considers to be reasonable based on information currently available to it, they may prove to be incorrect. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. The risks include, but are not limited to, the factors contained in the Companys filings with the Canadian securities regulators and the U.S. Securities and Exchange Commission. While the Company may elect to, it is under no obligation (and expressly disclaims any such obligation) and does not undertake to update or alter this information at any particular time.
FOR FURTHER INFORMATION PLEASE CONTACT:
MaisonBrison
Rick Leckner
514-731-0000
ORLDOCS 11854136 1