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Canaccord Genuity Group Inc. Announces Final Results of Substantial Issuer Bid
Canaccord Genuity Group Inc. Announces Final Results of Substantial Issuer Bid Can...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Final Results of Substantial Issuer Bid\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\nCanada NewsWire\nTORONTO, Aug. 14, 2019\n\n\n\nTORONTO, Aug. 14, 2019 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF, the \"Company\") announces today that it will take up and purchase for cancellation 7,272,727 of its common Shares (the \"Common Shares\") at a purchase price of $5.50 per Common Share under the Company's substantial issuer bid (the \"Offer\"), for aggregate consideration of $39,999,998.50. \nCommon Shares purchased under the Offer represent approximately 6.28% of the issued and outstanding Common Shares on a non-diluted basis as at July 3, 2019, the time the Offer was announced. After giving effect to the Offer, 108,474,831 Common Shares will be issued and outstanding.\nA total of approximately 18,918,198 Common Shares were properly tendered to the Offer and not withdrawn. As the Offer was oversubscribed, shareholders who made auction tenders at a price of $5.50 and purchase price tenders will have approximately 59% of their successfully tendered Common Shares purchased by the Company, other than \"odd lot\" tenders, which are not subject to proration.\nPayment for the purchased Common Shares will be effected by Computershare Trust Company of Canada (the \"Depositary\") in accordance with the Offer and applicable law. Any Common Shares tendered at a purchase price per Common Share above $5.50 per Common Share will be returned to shareholders promptly by the Depositary.\nThe full details of the Offer are described in the offer to purchase and issuer bid circular dated July 3, 2019, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com.\nOn August 12, 2019, the Company announced a normal course issuer bid (the \"NCIB\") to purchase up to a maximum of 5,423,872 of its common shares through the facilities of the TSX or alternative Canadian trading systems. Purchases under the NCIB are expected to be able to commence on Augus...