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Celestica Amends Normal Course Issuer Bid
Celestica Amends Normal Course Issuer Bid Celestica Amends Normal Course Issuer Bi...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\nCelestica Amends 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\nCelestica Amends Normal Course Issuer Bid\nCanada NewsWire\nTORONTO, March 8, 2016\n\n\n\nTORONTO, March 8, 2016 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced that the Toronto Stock Exchange has accepted the Company's amended notice of intention to make a Normal Course Issuer Bid (the Bid). The notice has been amended to permit the repurchase by the Company of its subordinate voting shares under one or more program share repurchases (each a PSR) during the term of the Bid, pursuant to the terms of an exemptive relief order of the Ontario Securities Commission (the OSC Order).\n\nIn connection with each PSR, the Company will enter into an agreement (each an Agreement) with Citibank, N.A., Canada Branch (Canada Branch) to repurchase its subordinate voting shares (Purchased Shares). Pursuant to the terms of each Agreement, the Company will pay an amount (the Amount) to Canada Branch at the outset of the applicable PSR and Canada Branch will then acquire subordinate voting shares in the open market for its own account. All purchases made by Canada Branch or its agents on the Toronto Stock Exchange pursuant to the PSR must be made in accordance with the rules applicable to the Bid, subject to limited exceptions as provided in the OSC Order. The Company and any other non‑independent purchasing agent acting on behalf of the Company are prohibited from purchasing any subordinate voting shares during the term of the PSR. Any subordinate voting shares acquired by or on behalf of Canada Branch pursuant to the PSR will not be voted in respect of any matters on which a holder of subordinate voting shares is entitled to vote. Upon completion of the PSR, Canada Branch will deliver to the Company such quantity of Purchased Shares as determined by dividing (i) the Amount by (ii) a volume-weighted average price per subordinate voting share during the term of the PSR (VWAP) less a negotiated ...