The Toronto Stock Exchange reports that CI Financial Corp. has made an offer to purchase up to $85-million of its shares at $17.50 per share. According to the TSX, the offer will expire at 5 p.m. Toronto time on April 2, 2024, unless withdrawn, extended or varied.

The TSX notes that if required, validly tendered shares will be purchased on a pro rata basis according to the number of shares tendered by each shareholder (with adjustments to avoid the purchase of fractional shares). Shareholders who own fewer than 100 shares as of the expiration time will not be subject to pro ration. An odd lot is a deposit by a shareholder owning in aggregate less than 100 shares at the close of business at the expiry time.

To tender to the offer, shareholders must return the letter of transmittal together with the share certificates to Computershare Investor Services Inc. (the depositary) at its principal offices in Toronto or follow the procedures for book entry transfer set out in the offer document. Shareholders whose shares are represented by a direct registration system (DRS) advice do not need to return the DRS advice and are only required to complete the letter of transmittal and return it to the depositary.

According to the TSX, the notice of guaranteed delivery must be completed and received by the depositary on or before the expiration time. The letter of transmittal along with the shares pertaining to the notice of guaranteed delivery must be received in Toronto before 5 p.m. Eastern Time on or before the second TSX trading day after the expiration time. Trades on April 2, 2024, will settle on April 3, 2024.

For more information, see the offer dated Feb. 26, 2024, available on SEDAR+.