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BRP Announces the Renewal of its Normal Course Issuer Bid
BRP Announces the Renewal of its Normal Course Issuer Bid Canada NewsWire ...
About this update from Brp, Inc.
[{"type":"text","content":"\n \n \n \n BRP Announces the Renewal of its 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 VALCOURT, QC\n \n ,\n \n Dec. 1, 2021\n \n /CNW/ - BRP Inc. (TSX:DOO) (NASDAQ: DOOO) announces today that the Toronto Stock Exchange (the \"TSX\") has approved the renewal of its normal course issuer bid (\"NCIB\") to purchase for cancellation up to 3,787,945 subordinate voting shares over the twelve-month period commencing on\n \n December 3, 2021\n \n and ending no later than\n \n December 2, 2022\n \n , representing approximately 10% of the public float of  37,879,457 subordinate voting shares as at\n \n November 29, 2021\n \n . As at\n \n November 29\n \n , 2021, 39,049,636 subordinate voting shares were issued and outstanding.\n \n \n The NCIB will be conducted through the facilities of the TSX or alternative trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.\n \n \n Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 59,716 subordinate voting shares representing 25% of the average daily trading volume, as calculated per the TSX rules for the most recently completed six calendar months. In addition, BRP may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of subordinate voting shares not directly or indirectly owned by insiders of BRP, in accordance with TSX rules. The subordinate voting shares purchased pursuant to the NCIB will be cancelled.\n \n \n The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees. In the event that BRP purchases subordinate voting shares by pre-arranged crosses, exempt offers,...