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TORONTO, Feb. 1, 2022 /PRNewswire/ – Canaccord Genuity Group Inc. (TSX:CF) (the “Company”) announces today that it will take up and purchase for cancellation 6,451,612 of its common shares (the “Common Shares”) at a purchase price of $15.50 per Common Share under the Company’s substantial issuer bid (the “Offer”), for aggregate consideration of approximately $100 million.
Common Shares purchased under the Offer represent 6.1% of the issued and outstanding Common Shares on a non-diluted basis as at December 22, 2021, when the terms of the Offer were announced. After giving effect to the Offer, 99,426,068 Common Shares will be issued and outstanding.
A total of 13,343,324 Common Shares were properly tendered to the Offer and not withdrawn. As the Offer was oversubscribed, shareholders who made auction tenders at a price of $15.50 and purchase price tenders will have approximately 82% of their successfully tendered Common Shares purchased by the Company, other than “odd lot” tenders, which are not subject to proration.
Payment for the purchased Common Shares will be effected by Computershare Investor Services Inc. (the “Depositary”) in accordance with the Offer and applicable law. Any Common Shares tendered at a purchase price per Common Share above $15.50 per Common Share will be returned to shareholders promptly by the Depositary.
The full details of the Offer are described in the offer to purchase and issuer bid circular dated December 22, 2021, as well as the related letter of transmittal and notice of guaranteed delivery, copies of which were filed and are available on SEDAR at www.sedar.com.
To assist shareholders in determining the tax consequences of the Offer, the Company estimates that for the purposes of the Income Tax Act (Canada), the paid-up capital per Common Share was $5.64 as at
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