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Sun Life Announces Intention to Launch Normal Course Issuer Bid
Sun Life Announces Intention to Launch Normal Course Issuer Bid Canada NewsWire ...
About this update from Sun Life Financial Inc.
[{"type":"text","content":"\n \n \n \n Sun Life Announces Intention to Launch 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 \n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Aug. 8, 2023\n \n \n /CNW/ - Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) (the \"Company\") announced today that, subject to the approval of the Office of the Superintendent of Financial Institutions (\"OSFI\") and the Toronto Stock Exchange (the \"TSX\"), it intends to launch a normal course issuer bid to purchase up to 17,000,000 of its common shares (representing approximately 2.9% of the 586,902,472 common shares issued and outstanding as at\n \n June 30, 2023\n \n ) (the \"NCIB\"). The Company will file a notice of intention with the TSX in this regard.\n \n \n The NCIB will provide the Company with the flexibility to acquire common shares in order to return capital to shareholders as part of its overall capital management strategy.\n \n \n The NCIB is expected to commence on\n \n August 21, 2023\n \n , or such earlier date determined by the Company following receipt of applicable approvals by OSFI and the TSX, and will end at the latest on the date that is 12 months after the commencement of the NCIB. Purchases under the NCIB may be made through the facilities of the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms, at prevailing market rates. Subject to regulatory approval, purchases under the NCIB may also be made by way of private agreements or share repurchase programs under issuer bid exemption orders issued by securities regulatory authorities. Any purchases made under an exemption order issued by a securities regulatory authority will generally be at a discount to the prevailing market price. The actual number of common shares purchased under the NCIB, and the timing of such purchases (if any), will be determined by the Company. Any common shares purchased by the Company pursuant to the NCIB will be cancelled or used in connection with certain equity settled incentive arrangements.\n \n \n From time to time, ...