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CCL Industries Inc. Announces TSX Acceptance of Normal Course Issuer Bid
TORONTO, ON / ACCESS Newswire / May 22, 2025 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B) ("th...
About this update from Ccl Industries Inc. Class A
[{"type":"text","content":"CCL Industries Inc. Announces TSX Acceptance of Normal Course Issuer BidTORONTO, ON / ACCESS Newswire / May 22, 2025 / CCL Industries Inc. (TSX:CCL.A)(TSX:CCL.B) (\"the Company\" or \"CCL\"), a world leader in specialty label, security and packaging solutions for global corporations, government institutions, small businesses and consumers, announced today that the Toronto Stock Exchange (\"TSX\") has accepted a notice filed by the Company to commence a normal course issuer bid (the \"Bid\"). Under the Bid, the Company is authorized to acquire up to 14,450,000 of its Class B non-voting shares, being approximately 9.95% of the public float of the Class B non-voting shares as of May 13, 2025. No Bid is proposed to be made for the Company's Class A voting shares.All purchases will be made through the facilities of and in accordance with the rules of the TSX and all Class B non-voting shares purchased will be cancelled. Except where reliance is placed on the TSX's block purchase exemption, the maximum number of Class B non-voting shares that could be purchased under the Bid on any trading day will be limited to 77,948 Class B non-voting shares. The average TSX daily trading volume for the six-month period ended April 30, 2025, was 311,793 Class B non-voting shares.The Bid will commence on May 26, 2025, and end no later than May 25, 2026. CCL's management believes that such purchases are an appropriate and desirable use of available funds.Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which Company sought and received approval from the TSX to purchase up to 14,750,000 Class B non-voting shares for the period of May 25, 2024 to May 24, 2025, the Company has purchased, as of May 13, 2025, 4,073,106 Class B non-voting shares on the open market at an average purchase price of $75.08 per share. As of May 13, 2025, the issued and outstanding number of Class B non-voting shares was 163,814,543 and the public float of the Class B non-voting shares was 145,158,990. Purchases were made through the facilities of the TSX and all Class B non-voting shares purchased were cancelled.Forward-looking StatementsThis press release contains forward-looking information and forward-looking statements (hereinafter collectively referred to as \"forward-looking statements\"), as defined under applicable securities laws,...