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Celestica Announces TSX Acceptance of Previously Announced Normal Course Issuer Bid
Celestica Announces TSX Acceptance of Previously Announced Normal Course Issuer Bid ...
About this update from Celestica Inc.
[{"type":"text","content":"\n\n\n\nCelestica Announces TSX Acceptance of Previously Announced 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 Announces TSX Acceptance of Previously Announced Normal Course Issuer Bid\nCanada NewsWire\nTORONTO, Feb. 22, 2016\n\n\n\nTORONTO, Feb. 22, 2016 /CNW/ - Celestica Inc. (NYSE, TSX: CLS), a global leader in the delivery of end-to-end product lifecycle solutions, today announced the Toronto Stock Exchange (the TSX) has accepted the Company's notice to launch its previously announced Normal Course Issuer Bid (the Bid).\n\nUnder the Bid, the Company may repurchase on the open market (or as otherwise permitted), at its discretion during the period commencing on February 24, 2016 and ending on the earlier of February 23, 2017 and the completion of purchases under the Bid, up to 10,510,680 subordinate voting shares, representing approximately 8.4% of the Company's outstanding subordinate voting shares (7.3% of the subordinate voting shares and multiple voting shares) and approximately 10% of the \"public float\" of the subordinate voting shares (within the meaning of the rules of the TSX), subject to the normal terms and limitations of such bids. Under the TSX rules, the average daily trading volume of the subordinate voting shares on the TSX during the six months ended January 31, 2016 was 303,839 and, accordingly, daily purchases on the TSX pursuant to the Bid will be limited to 75,959 subordinate voting shares, other than purchases made pursuant to the block purchase exception.  The actual number of subordinate voting shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by the management of the Company, subject to applicable law and the rules of the TSX.  In accordance with the TSX rules, the maximum number of subordinate voting shares which may be repurchased for cancellation under the Bid will be reduced by the number of subordinate voting shares purchased for delivery pursuant to stock-based compensation plans.\n\nPurchases are expected to be made through the faci...