Stock BuybacksBy The Online Investor Staff, updated Tue., Aug. 14, 10:50 PM
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Slide #2. Canaccord Genuity Group Inc.
Canaccord Genuity Group Inc. (TSE:CF.CA)
Share Amount Authorized:
Canaccord Genuity Group Inc. (the "Company") (TSX: CF) wishes to announce the filing of a normal course issuer bid (NCIB) to purchase common shares of the Company through the facilities of the TSX and on alternative Canadian 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 5,677,589 of its common shares through the facilities of the TSX or alternative Canadian 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, 2018, there were 113,551,789 common shares of the Company issued and outstanding. The Company previously commenced a bid on August 15, 2017 to purchase up to a maximum of 5,675,573 of its common shares and to date has purchased 106,400 common shares for cancellation under the bid at a volume weighted average price of approximately $7.01 per common share.
Canaccord Genuity Group, through its principal subsidiaries, is an independent, full-service investment dealer in Canada with capital markets operations in Canada, the U.K. and Europe, the U.S., Australia, China, Singapore and Barbados. Co. also has wealth management operations in Canada, the U.K. and Europe, and Australia. Co. has operations in each of the two principal segments of the securities industry: capital markets and wealth management. Together, these operations provide a range of complementary investment products, brokerage services and investment banking services to Co.'s private, institutional and corporate clients.
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