VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 31, 2007) - Methanex Corporation (TSX:MX)(NASDAQ:MEOH)(SSE:Methanex) announced today that Bruce Aitken, President and Chief Executive Officer, plans to purchase about 35,000 additional Methanex common shares. The purchase will be funded by the exercise of 164,000 Methanex stock options and is expected to occur between November 8, 2007 and the end of December 2007 through the facilities of the Toronto Stock Exchange.
Methanex has in place Share Ownership Guidelines under which Mr. Aitken is to hold Methanex common shares and share equivalents having a value of at least five times his base salary. Subsequent to this intended purchase, Mr. Aitken will hold approximately 365,000 Methanex common shares or share equivalents and will continue to substantially exceed the Share Ownership Guidelines.
This announcement is being made by way of press release in keeping with a Methanex governance policy that requires intended transactions in Methanex securities by the President and CEO of Methanex to be publicly disclosed no less than five business days in advance of the intended transaction. Ownership and trading history of Methanex securities by Methanex insiders is publicly available and may be viewed at www.sedi.ca.
Methanex is a Vancouver based, publicly-traded company engaged in the worldwide production, distribution, and marketing of methanol. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol "MX"; on the NASDAQ Global Market in the United States under the trading symbol "MEOH"; and on the Foreign Securities Market of the Santiago Stock Exchange in Chile under the trading symbol "Methanex". Methanex can be visited online at www.methanex.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
Director, Investor Relations
604 661 2600 or Toll Free: 1 800 661 8851