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Great-West Lifeco amends Normal Course Issuer Bid to increase annual limit and reflect Power Corporation of Canada participation
Great-West Lifeco amends Normal Course Issuer Bid to increase annual limit and reflect Power Corp...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n\n\n\n Great-West Lifeco amends Normal Course Issuer Bid to increase annual limit and reflect Power Corporation of Canada participation\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n TSX: GWO\n \n\n\n\n\n WINNIPEG, MB\n \n\n ,\n \n\n Sept. 3, 2025\n \n\n /CNW/ - Great-West Lifeco Inc. (Lifeco) (TSX: GWO) today announced that it has amended its current normal course issuer bid (NCIB) to increase the maximum number of common shares (Shares) that may be repurchased from 20,000,000 Shares to 40,000,000 Shares. Additionally, the Toronto Stock Exchange (TSX) has approved an amendment that will permit Lifeco to purchase its Shares from Power Financial Corporation and its wholly-owned subsidiaries (collectively, PFC) in connection with the NCIB, in order for PFC to maintain its proportionate interest in Lifeco. PFC is a wholly-owned subsidiary of Power Corporation of\n \n Canada\n \n and is the majority shareholder of Lifeco and holds approximately 68.715% of the issued and outstanding Shares (which does not include the approximately 2.394% of Shares held by IGM Financial Inc.). The NCIB amendments are expected to become effective on or around\n \n September 5, 2025\n \n .\n \n\n\n\n\n\n\n\n\n PFC plans to continue to hold its interest in Lifeco and accordingly to maintain its majority interest, except as detailed below.\n \n\n These amendments to the NCIB will facilitate the additional share repurchases that Lifeco recently announced on\n \n August 5, 2025\n \n . At that time, Lifeco announced that it intends to repurchase an additional\n \n $500 million\n \n Shares in 2025 under its NCIB, subject to market conditions and Lifeco's ability to effect the purchases on a prudent basis, and other strategic opportunities emerging. These purchases are in addition to the\n \n $500 million\n \n announced on\n \n May 7, 2025\n \n and the purchases made to offset dilution under its share compensation plans. To date, an aggregate of 9,793,875 Shares have been purchased under the current NCIB.\n \n\n\n Details o...