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Canaccord Genuity Group Inc. Announces Terms of its Previously Announced Substantial Issuer Bid
Canaccord Genuity Group Inc. Announces Terms of its Previously Announced Substantial Issue...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Announces Terms of its Previously Announced 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, July 3, 2019\n\n\n\nTORONTO, July 3, 2019 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF, the \"Company\") announces today the terms of its previously announced substantial issuer bid (the \"Offer\") to repurchase for cancellation up to $40.0 million of its common shares (the \"Common Shares\"). The Offer will commence today and will expire on August 9, 2019, unless extended or withdrawn.\nThe Offer is being made by way of a \"modified Dutch auction\", which will allow shareholders who choose to participate in the Offer to individually select the price, within a range of not less than $5.50 per Common Share and not more than $6.30 per Common Share (in increments of $0.10 per Common Share), at which they are willing to sell their Common Shares. Upon expiry of the Offer, the Company will determine the lowest purchase price (which will not be more than $6.30 per Common Share and not less than $5.50 per Common Share) that will allow it to purchase the maximum number of Common Shares properly tendered to the Offer, and not properly withdrawn, having an aggregate purchase price not exceeding $40 million.\nShareholders who wish to participate in the Offer will be able to do so through (i) auction tenders in which they will specify the number of Common Shares being tendered at a specific price per Common Share or (ii) purchase price tenders in which they will agree to have a specified number of Common Shares purchased at the purchase price to be determined pursuant to the auction and have their Common Shares considered as having been tendered at the minimum price of $5.50 for the purposes of determining the purchase price. Shareholders who validly deposit Common Shares without specifying the method in which they are tendering their Common Shares will be deemed to have made a purchase price tender.  \nThe directors and officers of the Company have advised that they will not tender any of their ...