Transcontinental Inc. Announces the Renewal of its Normal Course Issuer Bid
April 10 2014 - 2:42PM
Marketwired
Transcontinental Inc. Announces the Renewal of its Normal Course
Issuer Bid
MONTREAL, QUEBEC--(Marketwired - Apr 10, 2014) -
Transcontinental Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D) has been
authorized to purchase for cancellation on the open market, between
April 15, 2014 and April 14, 2015, up to 4,742,369 of its Class A
Subordinate Voting Shares, representing 10% of the 47,423,698
public float Class A Subordinate Voting Shares as of April 2, 2014
(63,188,951 issued and outstantding Class A Subordinate Voting
Shares as of April 2, 2014), and up to 741,640 of its Class B
Shares, representing 5% of the 14,832,816 issued and outstanding
Class B Shares as of April 2, 2014. The average daily trading
volume on the Toronto Stock Exchange of Class A Subordinate Voting
Shares for the past six months was 214,267 and the average daily
trading volume on the Toronto Stock Exchange of Class B Shares for
the past six months was 548. In accordance with the Toronto Stock
Exchange requirements, a maximum daily purchase of the greater of
25% of these averages or 1,000 shares may be made, which represent
a total of 53,566 Class A subordinate Voting Shares and a total of
1,000 Class B Shares. The purchases will be made in the normal
course of business at market prices through the facilities of the
Toronto Stock Exchange and/or alternative Canadian trading
platforms in accordance with the requirements of the exchange
and/or, subject to the approval of any securities authority by
private agreements. If necessary, purchases through private
agreements will be executed at a price that is less than the
prevailing market price on the Toronto Stock Exchange at the time
of the purchase.
The Corporation believes that the purchase of the Class A
subordinate Voting Shares and Class B Shares would constitute an
economically worthwhile use by the Corporation of its funds and is
in the best interest of the Corporation and its shareholders.
During the period from April 15, 2013 to April 10, 2014,
Transcontinental Inc. did not purchase Class A Subordinate Voting
Shares or Class B Shares.
In connection with the program, the Corporation established an
automatic securities purchase plan to provide standard instructions
regarding how the Corporation's shares are to be repurchased under
the program. Accordingly, the Corporation may repurchase its shares
under the automatic plan on any trading day during the program
including during self-imposed trading blackout periods. The
automatic plan will commence and should terminate together with the
program. It constitutes an "automatic plan" for purposes of
applicable Canadian securities legislation and has been reviewed by
the Toronto Stock Exchange.
About TC Transcontinental
Largest printer and leading provider of media and marketing
activation solutions in Canada, TC Transcontinental creates
products and services that allow businesses to attract, reach and
retain their target customers. The Corporation specializes in print
and digital media, the production of magazines, newspapers, books
and custom content, mass and personalized marketing, interactive
and mobile applications, and door-to-door distribution.
Transcontinental Inc. (TSX:TCL.A)(TSX:TCL.B)(TSX:TCL.PR.D),
including TC Transcontinental, TC Media and TC Transcontinental
Printing, has over 9,000 employees in Canada and the United States,
and revenues of C$2.1 billion in 2013. Website www.tc.tc.
Media: Nathalie St-JeanSenior Advisor, CorporateCommunicationsTC
TranscontinentalTelephone : 514 954-3581nathalie.st-jean@tc.tc /
www.tc.tcFinancial Community: Jennifer F. McCaugheySenior Director,
Investor Relationsand External Corporate CommunicationsTC
TranscontinentalTelephone : 514 954-2821jennifer.mccaughey@tc.tc /
www.tc.tc
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