Colliers Announces Entry Into Automatic Share Purchase Plan
October 03 2022 - 9:40AM
Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI)
(“Colliers”) announced today that it has established an automatic
share purchase plan (“ASPP”) in connection with its previously
announced normal course issuer bid (the “NCIB”) applicable to its
outstanding subordinate voting shares (the “Subordinate Voting
Shares”). The ASPP is intended to allow for the purchase of
Subordinate Voting Shares under the NCIB at times when Colliers
would ordinarily not be permitted to purchase its securities due to
regulatory restrictions and customary self-imposed blackout
periods.
Pursuant to the ASPP, purchases will be made by Colliers’
designated broker based on pre-established purchasing parameters,
without further instructions by Colliers, in compliance with the
rules of the Toronto Stock Exchange (“TSX”), applicable securities
laws and the terms of the ASPP. The ASPP has been pre-cleared by
the TSX and will be implemented beginning on October 3, 2022 and,
if not terminated sooner based on the terms of the ASPP, will
terminate on October 28, 2022.
The NCIB commenced on July 20, 2022 and will end not later than
July 19, 2023. All purchases made under the ASPP will be included
in computing the number of Subordinate Voting Shares purchased
under the NCIB.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified
professional services and investment management company. With
operations in 63 countries, our 17,000 enterprising professionals
work collaboratively to provide expert real estate and investment
advice to clients. For more than 27 years, our
experienced leadership with significant inside ownership has
delivered compound annual investment returns of 20% for
shareholders. With annual revenues of $4.5 billion and $81 billion
of assets under management, Colliers maximizes the potential of
property and real assets to accelerate the success of our clients,
our investors, and our people. Learn more at
corporate.colliers.com, Twitter @Colliers or LinkedIn.
Forward-looking Statements
This press release includes forward-looking statements.
Forward-looking statements include the Company’s financial
performance outlook and statements regarding goals, beliefs,
strategies, objectives, plans or current expectations. These
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results to be materially
different from any future results, performance or achievements
contemplated in the forward-looking statements. Such factors
include: economic conditions, especially as they relate to
commercial and consumer credit conditions and consumer spending,
particularly in regions where our business may be concentrated;
commercial real estate property values, vacancy rates and general
conditions of financial liquidity for real estate transactions;
trends in pricing and risk assumption for commercial real estate
services; the effect of significant movements in average
capitalization rates across different property types; a reduction
by companies in their reliance on outsourcing for their commercial
real estate needs, which would affect revenues and operating
performance; competition in the markets served by the Company; the
ability to attract new clients and to retain major clients and
renew related contracts; the ability to retain and incentivize
producers; increases in wage and benefit costs; the effects of
changes in interest rates on the cost of borrowing; unexpected
increases in operating costs, such as insurance, workers’
compensation and health care; changes in the frequency or severity
of insurance incidents relative to historical experience; the
effects of changes in foreign exchange rates in relation to the US
dollar on the Company’s Canadian dollar, Euro, Australian dollar
and UK pound sterling denominated revenues and expenses; the impact
of pandemics on client demand for the Company’s services, the
ability of the Company to deliver its services and the health and
productivity of its employees; the impact of global climate change;
the impact of political events including elections, referenda,
trade policy changes, immigration policy changes, hostilities and
terrorism on the Company’s operations; the ability to identify and
make acquisitions at reasonable prices and successfully integrate
acquired operations; the ability to execute on, and adapt to,
information technology strategies and trends; the ability to comply
with laws and regulations related to our global operations,
including real estate and mortgage banking licensure, labour and
employment laws and regulations, as well as the anti-corruption
laws and trade sanctions; and changes in government laws and
policies at the federal, state/provincial or local level that may
adversely impact the business.
Additional information and risk factors are identified in the
Company’s other periodic filings with Canadian and US securities
regulators (which factors are adopted herein and a copy of which
can be obtained at www.sedar.com). Forward looking statements
contained in this press release are made as of the date hereof and
are subject to change. All forward-looking statements in this press
release are qualified by these cautionary statements. Except as
required by applicable law, Colliers undertakes no obligation to
publicly update or revise any forward-looking statement, whether as
a result of new information, future events or otherwise.
COMPANY CONTACTS:
Christian
MayerCFO(416)
960-9500
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jun 2024 to Jul 2024
Colliers (NASDAQ:CIGI)
Historical Stock Chart
From Jul 2023 to Jul 2024