SASKATOON, Dec. 22 /PRNewswire-FirstCall/ -- Potash Corporation of Saskatchewan Inc. (PotashCorp) announced that it today purchased for cancellation 2,950,000 of its common shares outstanding pursuant to private agreement between the company and an arm's-length third-party seller. This purchase brings the cumulative total number of shares purchased under PotashCorp's 31.5 million share repurchase program - announced in January 2008 and expanded in September 2008 - to 22.85 million shares.
This transaction was made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission (the "Order"), and the disclosure in this news release is required by the Order.
The Order permits PotashCorp to purchase up to an additional 1,750,000 common shares by way of one or more similar private agreements with one or more arm's-length third party sellers specified in the Order, prior to January 30, 2009.
Potash Corporation of Saskatchewan Inc. is the world's largest fertilizer enterprise by capacity producing the three primary plant nutrients and a leading supplier to three distinct market categories: agriculture, with the largest capacity in the world in potash, second largest in nitrogen and third largest in phosphate; animal nutrition, with the world's largest capacity in phosphate feed ingredients; and industrial chemicals, as the largest global producer of industrial nitrogen products and the world's largest capacity for production of purified industrial phosphoric acid.
