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CANACCORD GENUITY GROUP INC. ANNOUNCES SUBSTANTIAL ISSUER BID FOR UP TO $100.0 MILLION OF ITS COMMON SHARES
CANACCORD GENUITY GROUP INC. ANNOUNCES SUBSTANTIAL ISSUER BID FOR UP TO $100.0 MILLION OF...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n \n \n \n CANACCORD GENUITY GROUP INC. ANNOUNCES SUBSTANTIAL ISSUER BID FOR UP TO $100.0 MILLION OF ITS COMMON SHARES\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 TORONTO\n \n ,\n \n Dec. 16, 2021\n \n /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the \"Company\") announces today that its board of directors has authorized the initiation of a substantial issuer bid (the \"Offer\") pursuant to which the Company will offer to repurchase for cancellation up to\n \n $100.0 million\n \n of its common shares (the \"Common Shares\").\n \n \n The Company expects to announce the terms of the Offer and commence the Offer on\n \n December 22, 2021\n \n and that the bid would then expire on\n \n January 27, 2022\n \n at\n \n 5:00 pm Eastern Time\n \n , unless extended or withdrawn.\n \n \n The Offer is expected to proceed by way of a modified Dutch auction, which will allow shareholders who choose to participate in the Offer to select the price, within a price range of not less than\n \n $15.50\n \n and not more than\n \n $16.50\n \n per Common Share (in increments of\n \n $0.10\n \n per Common Share). Upon expiry of the Offer, the Company will determine the lowest purchase price (which will not be more than\n \n $16.50\n \n per Common Share and not less than\n \n $15.50\n \n per Common Share) that will allow the Company to purchase the maximum number of Common Shares properly tendered to the Offer, having an aggregate purchase price not exceeding\n \n $100.0 million\n \n .\n \n \n The directors and officers of the Company have advised that they will not tender any of their Common Shares pursuant to the Offer.\n \n \n The Offer will not be conditional upon any minimum number of Common Shares being tendered. The Offer will, however, be subject to other conditions and the Company will reserve the right, subject to applicable laws, to withdraw or amend the Offer, if, at any time prior to the payment for deposited Common Shares, certain events occur.\n \n \n The Company has engaged Kingsdale Advisors to act as information agent for the ...