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AUTOCANADA ANNOUNCES INTENTION TO RENEW NORMAL COURSE ISSUER BID
AUTOCANADA ANNOUNCES INTENTION TO RENEW NORMAL COURSE ISSUER BID Canada NewsWire ...
About this update from Autocanada Inc.
[{"type":"text","content":"\n \n \n \n AUTOCANADA ANNOUNCES INTENTION TO RENEW NORMAL COURSE ISSUER BID\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n EDMONTON, AB\n \n \n ,\n \n \n Dec. 20, 2022\n \n \n /CNW/ - AutoCanada Inc. (\"AutoCanada\" or the \"Company\") (TSX: ACQ), a multi-location North American automobile dealership group, announced today that the Company intends to file with the Toronto Stock Exchange (\"TSX\") a notice of intention to commence a normal course issuer bid (\"NCIB\"), as part of its overall capital allocation strategy. The NCIB renews the existing NCIB, which is scheduled to terminate on\n \n December 22, 2022\n \n .\n \n \n \n \n \n \n \n \n \n If accepted by the TSX, the Company would be permitted under the NCIB to purchase for cancellation, through the facilities of the TSX and/or alternative Canadian trading systems, up to 10% of the Company's public float (calculated in accordance with TSX rules) during the 12 months following such TSX acceptance. The exact number of common shares subject to the NCIB will be determined on the date of acceptance of the notice of intention by the TSX.\n \n \n All common shares purchased by the Company under the NCIB will be purchased at prevailing market prices in accordance with the rules and policies of the TSX and applicable securities laws. The actual number of common shares that may be purchased, and the timing of any such purchases, will be determined by the Company, subject to the applicable terms and limitations of the NCIB. All common shares acquired by the Company under the NCIB will be cancelled.\n \n \n The NCIB will terminate one year after its commencement, or earlier if the maximum number of common shares under the NCIB have been purchased. Although the Company has a present intention to acquire its common shares pursuant to the NCIB, the Company will not be obligated to make any purchases and purchases may be suspended by the Company at any time. The Company reserves the right to terminate the NCIB earlier if it feels it is appropriate to do so.\n \n \n Pursuant to...