CI Financial Corp. Announces Final Results of Substantial Issuer Bid
CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the final results of its substantial issuer bid (the “Offer”) under which it has purchased for cancellation 4,857,142 of its common shares (the “Shares”) at the purchase price of $17.50 per Share, for an aggregate purchase price of approximately $85 million.
- CI Financial Corp. (TSX: CIX) (“CI Financial” or the “Corporation”) today announced the final results of its substantial issuer bid (the “Offer”) under which it has purchased for cancellation 4,857,142 of its common shares (the “Shares”) at the purchase price of $17.50 per Share, for an aggregate purchase price of approximately $85 million.
- Shares purchased under the Offer represent approximately 3.11% of the issued and outstanding Shares at the time that the Offer was commenced.
- Based on the final count by Computershare Investor Services Inc., the depositary for the Offer (the “Depositary”), a total of 12,586,530 Shares were properly tendered and not withdrawn.
- To assist shareholders in determining the Canadian tax consequences of the Offer, CI Financial estimates that for the purposes of the Income Tax Act (Canada), the paid-up capital per Share is approximately $10.7284.