Loblaw Companies Limited Announces Normal Course Issuer Bid

BRAMPTON, ON, April 29, 2020 /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). The TSX notice provides that Loblaw may, during the 12-month period commencing May 1, 2020 and terminating April 30, 2021, purchase up to 17,888,888 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 April 17, 2020, Loblaw had 357,777,765 outstanding Common Shares. Based on the average daily trading volume of 597,638 during the last six months, daily purchases will be limited to 149,410 Common Shares, other than block purchase exceptions and purchases from George Weston Limited (GWL), Loblaw's majority shareholder. 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. The maximum The post Loblaw Companies Limited Announces Normal Course Issuer Bid appeared first on Asset Management - How To Asset Manage. Seoul, Korea
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