Business
Canaccord Genuity Group Inc. Discloses Normal Course Issuer Bid
Canaccord Genuity Group Inc. Discloses Normal Course Issuer Bid Canada NewsWire ...
About this update from Canaccord Genuity Group Inc.
[{"type":"text","content":"\n\n\n\nCanaccord Genuity Group Inc. Discloses Normal Course 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. 18, 2020\n\n\n\nTORONTO, Aug. 18, 2020 /CNW/ - Canaccord Genuity Group Inc. (TSX: CF) (the \"Company\") wishes to announce the filing of a normal course issuer bid (NCIB) to purchase common shares of the Company through the facilities of the TSX and on alternative Canadian trading systems in accordance with the requirements of the TSX. The Company has filed a notice for a normal course issuer bid to provide the choice of purchasing up to a maximum of 5,390,674 of its common shares through the facilities of the TSX or alternative Canadian trading systems. The purpose of the purchase of common shares under the normal course issuer bid is to enable the Company to acquire shares for cancellation, and any shares acquired will be cancelled. The shares that may be repurchased represent 5.0% of the Company's outstanding common shares. As of August 17, 2020, there were 107,813,482 common shares of the Company issued and outstanding. Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which the Company sought and received approval from the TSX to purchase up to 5,423,872 of its common shares for the period from August 15, 2019 to August 14, 2020, the Company has purchased, as of August 14, 2020, 1,467,656 common shares  for cancellation under the bid at a volume weighted average price of approximately $4.89 per common share. \nThe Company has also entered into a pre-defined plan with a designated broker to allow for the repurchase of its common shares under this normal course issuer bid. The Company's broker may repurchase the common shares under the plan on any trading day during the normal course issuer bid, including during the Company's internal trading blackout periods. The plan has been reviewed by the Toronto Stock Exchange and will terminate on the earlier of the termination of the plan by the Company in accordance with its terms and the expiry of the bid.\n...