Business
Dollarama amends normal course issuer bid
MONTREAL , Jan. 22, 2014 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "C...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\nMONTREAL, Jan. 22, 2014 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") announced today that it received\n approval from the Toronto Stock Exchange (\"TSX\") to amend its normal\n course issuer bid (\"NCIB\") in order to increase the maximum number of\n common shares that may be repurchased from 3,364,523 common shares, or\n 5% of the public float as at May 31, 2013 (the reference date for the\n NCIB), to 6,729,046 common shares, or 10% of the public float. No other\n terms of the NCIB have been amended.\n\n\nThe NCIB - which began on June 17, 2013 and will end no later than\n June 16, 2014 - is conducted through the facilities of the TSX or\n alternative trading systems, if eligible, and conforms to their\n regulations. Purchases under the NCIB are made by means of open market\n transactions or such other means as the TSX or a securities regulatory\n authority may permit, including pre-arranged crosses, exempt offers and\n private agreements under an issuer bid exemption order issued by a\n securities regulatory authority.\n\n\nUnder TSX rules, Dollarama is allowed to purchase daily, through the\n facilities of the TSX, a maximum of 66,871 common shares representing\n 25% of the average daily trading volume, as calculated per the TSX\n rules. In addition, Dollarama may make, once per week, a block purchase\n of common shares not directly or indirectly owned by insiders of\n Dollarama, in accordance with TSX rules. All shares purchased pursuant\n to the NCIB are cancelled.\n\n\nThe automatic purchase plan agreement (\"APP\") entered into with a broker\n on June 12, 2013 also remains unchanged. The APP allows for the\n purchase of common shares under the NCIB at times when Dollarama\n ordinarily would not be active in the market due to self-imposed\n trading blackout periods. Outside of these pre-determined blackout\n periods, common shares are purchased in accordance with management's\n discretion.\n\n\nDuring the period from June 17, 2013 to January 17, 2014, Dollarama\n purchased and cancelled a total of 3,027,218 common shares,\n representing 4.50% of the public float as at May 31, 2013, at a\n weighted average price of $77.42 per common share.\n\n\nThe Board of Directors of Dollarama believes that the purchase by\n Dollarama of its common shares ...