TORONTO, Aug. 10, 2015 /CNW/ - Canaccord Genuity Group Inc. (the
"Company") (TSX: CF, LSE: CF.) wishes to announce the filing of a
normal course issuer bid (NCIB)/buy-back programme to purchase common
shares of the Company through the facilities of the TSX and on
alternative trading systems in accordance with the requirements of the
TSX. The Company has filed a notice for a normal course issuer bid to
provide the choice of purchasing up to a maximum of 5,163,736 of its
common shares through the facilities of the TSX or alternative trading
systems. The purpose of the purchase of common shares under the normal
course issuer bid is to enable the Company to acquire shares for
cancellation, and any shares acquired will be cancelled. The shares
that may be repurchased represent 5.0% of the Company's outstanding
common shares. As of July 31, 2015, there were 103,274,736 common
shares of the Company issued and outstanding. The Company purchased
933,449 common shares at a weighted average per share of $8.2540 under
the normal course issuer bid which commenced on August 13, 2014.
The Company has also entered into a pre-defined plan with a designated
broker to allow for the repurchase of its common shares under this
normal course issuer bid. The Company's broker may repurchase the
common shares under the plan on any trading during the normal course
issuer bid, including during the Company's internal trading blackout
periods. The plan has been reviewed by the Toronto Stock Exchange and
will terminate on the earlier of the termination of the plan by the
Company in accordance with its terms and the expiry of the bid.
Purchases under the normal course issuer bid are expected to be able to
commence on August 13, 2015, and will continue for one year (to August
12, 2016). The maximum consideration will be the market price of the
securities at the time of acquisition. In order to comply with the
trading rules of the TSX and the conditions for trading under the EU
Buy-back and Stabilisation Regulation, the daily purchases are limited
to 41,767 common shares of the Company (which is lesser of (a) 25% of
the average daily trading volume of common shares of the Company on the
TSX (ADTV) in the six calendar months from February 2015 to July 2015
(25% of the ADTV of 244,397 shares) and (b) 25% of the average daily
trading volume of common shares of the Company on the TSX in the month
of July 2015). To fulfill its regulatory reporting requirements in
Canada and in the UK, the Company will issue a press release no later
than the end of the seventh daily market session following the date of
execution of the purchases.
ABOUT CANACCORD GENUITY GROUP INC.:
Through its principal subsidiaries, Canaccord Genuity Group Inc. (the
"Company") is a leading independent, full-service financial services
firm, with operations in two principal segments of the securities
industry: wealth management and capital markets. Since its
establishment in 1950, the Company has been driven by an unwavering
commitment to building lasting client relationships. We achieve this by
generating value for our individual, institutional and corporate
clients through comprehensive investment solutions, brokerage services
and investment banking services. The Company has offices in 10
countries worldwide, including Wealth Management offices located in
Canada, Australia, the UK and Europe. Canaccord Genuity, the
international capital markets division, operates in Canada, the US, the
UK, France, Germany, Ireland, Hong Kong, China, Singapore, Australia
and Barbados. To us there are no foreign markets.TM
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on
the TSX and the symbol CF. on the London Stock Exchange.
SOURCE Canaccord Genuity Group Inc.
Image with caption: "Canaccord Genuity Group Inc. (CNW Group/Canaccord Genuity Group Inc.)". Image available at: http://photos.newswire.ca/images/download/20150810_C9435_PHOTO_EN_44137.jpg
<p> <b>North America media:</b><br/> Scott Davidson<br/> Executive Vice President, Global Head of Corporate Development and Strategy<br/> Phone: 416-869-3875, email: <a href="mailto:scott.davidson@canaccord.com">scott.davidson@canaccord.com</a> </p> <p> <b>For investor relations inquiries contact:</b><br/> Christina Marinoff<br/> Vice President, Investor Relations & Communications<br/> Phone: 416-687-5507, email: <a href="mailto:christina.marinoff@canaccord.com">christina.marinoff@canaccord.com</a> </p> <p> <b>London media:</b><br/> Robert Morgan or Nicola Ratchford<br/> Stockwell<br/> Phone: +44 (0) 20 7240 2486, email: <a href="mailto:robert.morgan@stockwellgroup.com">robert.morgan@stockwellgroup.com</a>; <br/> <a href="mailto:nicola.ratchford@stockwellgroup.com">nicola.ratchford@stockwellgroup.com</a> </p> <p> <b>Broker:</b><br/> Oliver Hearsey<br/> RBC Europe Limited<br/> Phone: +44 (0) 20 7653 4000, email: <a href="mailto:oliver.hearsey@rbccm.com">oliver.hearsey@rbccm.com</a> </p>