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Loblaw Companies Limited Announces Normal Course Issuer Bid
Loblaw Companies Limited Announces Normal Course Issuer Bid Canada NewsWire ...
About this update from Loblaw Companies Limited
[{"type":"text","content":"\n\n\n\n Loblaw Companies Limited Announces 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 BRAMPTON, ON\n \n\n ,\n \n\n May 2, 2025\n \n\n /CNW/ - (TSX: L) – Loblaw Companies Limited (Loblaw) announced today that the Toronto Stock Exchange (TSX) has accepted a notice filed by Loblaw of its intention to make a normal course issuer bid (NCIB).\n \n\n The TSX notice provides that Loblaw may, during the 12-month period commencing\n \n May 6, 2025\n \n and terminating\n \n May 5, 2026\n \n , purchase up to 14,950,061 of Loblaw's common shares (Common Shares), representing approximately 5% of the issued and outstanding Common Shares, by way of a NCIB on the TSX or through alternative trading systems or by such other means as may be permitted by the TSX or under applicable law. As of\n \n April 22, 2025\n \n , Loblaw had 299,001,231 outstanding Common Shares. Based on the average daily trading volume of 362,601 during the last six months, daily purchases will be limited to 90,650 Common Shares, other than block purchase exceptions and purchases from George Weston Limited (GWL), Loblaw's majority shareholder.\n \n\n Loblaw will be permitted to purchase its Common Shares from GWL in accordance with an exemption granted by the TSX pursuant to its rules, regulations and policies in connection with the NCIB in order for GWL to maintain its proportionate percentage ownership, which is consistent with the exemption granted by the TSX each year since 2020. The maximum number of Common Shares that may be purchased pursuant to the NCIB will be reduced by the number of Common Shares purchased by Loblaw from GWL.\n \n\n Purchases of Common Shares will be made in open market transactions on the TSX or through alternative trading systems. In addition, Loblaw may enter into forward purchase or swap contracts in connection with Common Shares which may be settled by physical settlement, cash settlement or a combination thereof. The forward price will be based on market price, dividend yield and market interest rates. Lob...