Business
Dollarama announces specific share repurchase program as part of normal course issuer bid
Dollarama announces specific share repurchase program as part of normal course issuer bid ...
About this update from Dollarama Inc.
[{"type":"text","content":"\n\n\n\nDollarama announces specific share repurchase program as part of 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\n\nCanada NewsWire\nMONTREAL, Dec. 6, 2017\n\n\n\nMONTREAL, Dec. 6, 2017 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) (\"Dollarama\" or the \"Corporation\") announced today that it intends to purchase common shares for cancellation under a specific share repurchase program (the \"Program\"). The Program will form part of Dollarama's normal course issuer bid announced on June 7, 2017, which provides authorization for the purchase of up to 5,680,390 common shares during the 12-month period from June 19, 2017 to June 18, 2018 (the \"NCIB\"). \n\nDollarama entered into a program agreement (the \"Agreement\") with a third party to repurchase common shares through daily purchases that will take place between December 11, 2017 and January 25, 2018, subject to a maximum of 437,000 common shares for the Program. Pursuant to the terms of the Agreement, and subject to the conditions of an issuer bid exemption order issued by the Ontario Securities Commission (the \"Order\"), an affiliate of the third party will purchase common shares on Canadian markets, and an equal number of common shares will be sold that same day by the third party to Dollarama for the purpose of fulfilling the third party's delivery obligations under the Agreement. The price that Dollarama will pay for any common shares purchased by it from the third party will be negotiated by Dollarama and the third party, and will be at a discount to the volume weighted average trading price of the common shares on the Canadian markets on the date of the purchase. \n\nDollarama currently intends to purchase the maximum of 437,000 common shares under the Program. However, the number of common shares actually purchased may be less than the Program maximum if, among other things, it is not possible to purchase common shares within the price range established by Dollarama during the term of the Program, if trading is suspended, or as a result of othe...