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Power Corporation - Normal Course Issuer Bid
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[{"type":"text","content":"\n\n\n\n Power Corporation - 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 Readers are referred to the section Forward-Looking Statements at the end of this release.\n \n\n\n MONTRÉAL\n \n ,\n \n\n Feb. 27, 2025\n \n\n /CNW/ - Power Corporation of\n \n Canada\n \n (TSX: POW) (\"Power Corporation\" or the \"Corporation\") announced today that it has filed with the Toronto Stock Exchange (the \"TSX\"), and the TSX has accepted, the Corporation's notice of intention to make a normal course issuer bid (the \"NCIB\").\n \n\n Under the NCIB, the Corporation is permitted to purchase for cancellation, on the open market, during the period commencing on\n \n March 1, 2025\n \n and ending on the earlier of\n \n February 28, 2026\n \n and the completion of purchases under the NCIB, up to 20,000,000 subordinate voting shares of the Corporation (the \"Subordinate Voting Shares\"), representing approximately 3.7% of the \"public float\" of the Subordinate Voting Shares (within the meaning of the rules of the TSX) as of\n \n February 18, 2025\n \n , subject to the normal terms and limitations of such bids.\n \n\n Daily purchases on the TSX under the NCIB will be limited to 638,524 Subordinate Voting Shares, other than purchases made pursuant to the block purchase exception, based on the applicable average daily trading volume on the TSX for the six months ending\n \n January 31, 2025\n \n of 2,554,098 Subordinate Voting Shares. The actual number of Subordinate Voting Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by the management of the Corporation, subject to applicable law and the rules of the TSX.\n \n\n Purchases under the NCIB are expected to be made at prevailing market prices through the facilities of the TSX and/or alternative Canadian trading systems, or by such other means as may be permitted by the Autorité des marchés financiers or other applicable Canadian Securities Administrators. The NCIB will be funded using Power Corporation's existing cash...