Business
Dollarama announces renewal of its normal course issuer bid
MONTREAL , June 12, 2013 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "C...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\nMONTREAL, June 12, 2013 /CNW Telbec/ - Dollarama Inc. (TSX: DOL)\n (\"Dollarama\" or the \"Corporation\") announced today that it received\n approval from the Toronto Stock Exchange (\"TSX\") respecting the renewal\n of its normal course issuer bid to purchase for cancellation up to\n 3,364,523 of its common shares, or 5% of the public float of 67,290,467\n common shares as at May 31, 2013. As at the same date, there were\n 73,161,732 common shares issued and outstanding.\n\n\nThe repurchase program - starting on June 17, 2013 and ending no later\n than June 16, 2014 - will be conducted through the facilities of the\n TSX or alternative trading systems, if eligible, and will conform to\n their regulations.\n\n\nThe average daily trading volume of the common shares over the period\n between December 1, 2012 and May 31, 2013, as calculated per the TSX\n rules, was 267,484 common shares. Consequently, under TSX rules,\n Dollarama will be allowed to purchase daily, through the facilities of\n the TSX, a maximum of 66,871 common shares representing 25% of such\n average daily trading volume. In addition, Dollarama may make, once per\n week, a block purchase (as such term is defined in the TSX Company\n Manual) of common shares not directly or indirectly owned by insiders\n of Dollarama, in accordance with TSX rules. The shares purchased\n pursuant to the normal course issuer bid will be cancelled.\n\n\nPurchases under the normal course issuer bid will be made by means of\n open market transactions or such other means as the TSX or a securities\n regulatory authority may permit, including pre-arranged crosses, exempt\n offers and private agreements under an issuer bid exemption order\n issued by a securities regulatory authority.\n\n\nThe price to be paid by Dollarama for any common share will be the\n market price at the time of acquisition, plus brokerage fees, or such\n other price as the TSX may permit. In the event that Dollarama\n purchases common shares by pre-arranged crosses, exempt offers, block\n purchases or private agreements, the purchase price of the common\n shares may be, and will be in the case of purchases by private\n agreements, at a discount to the market price of the common shares at\n the time of the acquisition.\n\n\nDollarama also announced that it has e...