Saputo may purchase up to 1.7 million common shares through private agreements under its normal course bid announced on Nov. 7, 2012
June 6, 2013
– Saputo Inc. (TSX:SAP) (Saputo or the Company) announced today it may purchase for cancellation up to 1,700,000 of its common shares pursuant to private agreements with an arm's-length third-party seller. The common shares so purchased would be counted towards the 9,850,532 common shares Saputo is entitled to repurchase for cancellation under its normal course issuer bid announced on November 7, 2012. Information regarding each purchase, including the number of common shares purchased and the aggregate purchase price, would be available on SEDAR following completion of any such purchase.
Such purchases would be made pursuant to an issuer bid exemption granted by the Ontario Securities Commission and would take place by way of one or more transactions to be completed pursuant to the terms of the exemption, which provides that such purchases shall occur on or prior to June 30, 2013. The price Saputo would pay for the common shares purchased under such agreements would be negotiated by Saputo and the seller, and would be at a discount to the prevailing market price of Saputo's common shares on the Toronto Stock Exchange at the time of the purchase.