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iA Financial Group Announces the early renewal of its Normal Course Issuer Bid
iA Financial Group Announces the early renewal of its Normal Course Issuer Bid ...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group Announces the early renewal of its Normal Course Issuer Bid\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n QUEBEC CITY\n \n \n ,\n \n \n Nov. 9, 2022\n \n \n /CNW/ - The board of directors of iA Financial Corporation Inc. (TSX: IAG) (\"iA Financial Group\" or the \"Corporation\") has authorized the early termination of the normal course issuer bid effective since December 6, 2021 (\"Terminated NCIB\") and authorized the establishment of a new NCIB (\"NCIB\"). The Terminated NCIB will expire at the close of markets on\n \n November 11, 2022\n \n and the NCIB will begin on\n \n November 14, 2022\n \n and end on\n \n November 13, 2023\n \n .\n \n \n Under the Terminated NCIB that would have expired on\n \n December 5, 2022\n \n , the Corporation purchased on the Toronto Stock Exchange (\"TSX\") 2,607,214 common shares out of the 5,382,503 common shares it was authorized to repurchase, at a weighted average price paid per common share of approximately CDN\n \n $66.84\n \n . As a result, the 2,607,214 common shares purchased under the Terminated NCIB will be deducted from the NCIB annual limit as per the requirements of the TSX.\n \n \n With the approval of the TSX and of the Autorité des marchés financiers, the board of directors has authorized the Corporation to purchase, in the normal course of its activities, from\n \n November 14, 2022\n \n to November 13, 2023, up to 7,872,259 common shares (representing approximately 7.48% of the 105,139,102 common shares of its public float as at November 1, 2022) including the 2,607,214 common shares purchased under the Terminated NCIB, for net new purchases of up to 5,265,045 common shares (representing 5% of the 105,300,913 issued and outstanding common shares as at\n \n November 1, 2022\n \n ).\n \n \n The purchases for the NCIB will be made at market price at the time of purchase through the facilities of the TSX or an alternative Canadian trading system, in accordance with market rules ...