CCL Industries Inc.-Normal Course Issuer Bid
TORONTO, ONTARIO -- (Marketwire) -- 03/21/13 -- CCL Industries Inc.
(TSX:CCL.A)(TSX:CCL.B), a world leader in the development of
labelling solutions and speciality packaging for the consumer
products and healthcare industries, announced today that it intends
to commence a normal course issuer bid ("the Bid") to acquire up to
10,000 of its outstanding Class A voting shares and 2,100,000 Class B
non-voting shares, being approximately 8.0% of the public float of
the Class A voting shares and approximately 8.3% of the public float
of the Class B non-voting shares.
As at March 19, 2013, CCL had 2,369,025 Class A shares and 31,823,621
Class B shares issued and outstanding. All purchases will be made
through the facilities of the Toronto Stock Exchange or other
Canadian marketplaces and in accordance with the rules of the Toronto
Stock Exchange. All shares purchased will be cancelled. Except where
reliance is placed on the Exchange's block purchase exemption, the
maximum number of shares that could be purchased under the Bid on any
trading day will be limited to 1,000 Class A voting shares and 10,205
Class B non-voting shares. The average daily trading volumes on the
Toronto Stock Exchange for the six-month period ended February 28,
2013 were 27 Class A voting shares and 40,821 Class B non-voting
shares. There were no purchases made under CCL Industries' 2012/2013
normal course issuer bid.
The Bid will commence on March 25, 2013, and end no later than March
24, 2014. CCL's management believe that such purchases are an
appropriate and desirable use of available funds.
With headquarters in Toronto, Canada, CCL Industries now employs
approximately 6,600 people and operates 74 production facilities
globally located to meet the sourcing needs of large international
customers. CCL Label is the world's largest converter of pressure
sensitive and film materials for label applications and sells to
leading global customers in the consumer packaging, healthcare,
automotive and consumer durable markets. CCL Container and CCL Tube
are leading producers of aluminum aerosol cans, bottles and extruded
plastic tubes for consumer packaged goods customers in the United
States, Canada and Mexico.
This press release contains forward-looking information and
forward-looking statements, as defined under applicable securities
laws, (hereinafter collectively referred to as "forward-looking
statements") that involve a number of risks and uncertainties.
Forward-looking statements include all statements that are predictive
in nature or depend on future events or conditions. Forward-looking
statements are typically identified by the words "believes,"
"expects," "anticipates," "estimates," "intends," "plans" or similar
expressions. Statements regarding the operations, business, financial
condition, priorities, ongoing objectives, strategies and outlook of
the Company, other than statements of historical fact, are
forward-looking statements. Forward-looking statements are not
guarantees of future performance. They involve known and unknown
risks and uncertainties relating to future events and conditions
including, but not limited to, the evolving global financial crisis
and its impact on the world economy and capital markets; the impact
of competition; consumer confidence and spending preferences; general
economic and geopolitical conditions; currency exchange rates;
interest rates and credit availability; technological change; changes
in government regulations; risks associated with operating and
product hazards; and CCL's ability to attract and retain qualified
employees. Do not unduly rely on forward-looking statements as the
Company's actual results could differ materially from those
anticipated in these forward-looking statements. Forward-looking
statements are also based on a number of assumptions, which may prove
to be incorrect, including, but not limited to, assumptions about the
following: global economic recovery and higher consumer spending;
improved customer demand for the Company's products; continued
historical growth trends, market growth in specific segments and
entering into new segments; the Company's ability to provide a wide
range of products to multinational customers on a global basis; the
benefits of the Company's focused strategies and operational
approach; the achievement of the Company's plans for improved
efficiency and lower costs, including stable aluminum costs; the
availability of cash and credit; fluctuations of currency exchange
rates; the Company's continued relations with its customers; and
general business and economic conditions. Should one or more risks
materialize or should any assumptions prove incorrect, then actual
results could vary materially from those expressed or implied in the
forward-looking statements. Further details on key risks can be found
in the MD&A section of CCL's 2012 Annual Report, particularly under
Section 4: "Risks and Uncertainties."
CCL's annual and quarterly reports can be found online at
www.cclind.com and www.sedar.com or are available upon request.
Except as otherwise indicated, forward-looking statements do not take
into account the effect that transactions or non-recurring or other
special items announced or occurring after the statements are made
may have on CCL's business. Such statements do not, unless otherwise
specified by the Company, reflect the impact of dispositions, sales
of assets, monetizations, mergers, acquisitions, other business
combinations or transactions, asset write-downs or other charges
announced or occurring after forward-looking statements are made. The
financial impact of these transactions and non-recurring and other
special items can be complex and depends on the facts particular to
each of them and therefore cannot be described in a meaningful way in
advance of knowing specific facts. The forward-looking statements are
provided as of the date of this press release and the Company does
not assume any obligation to update or revise the forward-looking
statements to reflect new events or circumstances, except as required
For more details on CCL, visit our website - www.cclind.com.
CCL Industries Inc.
Senior Vice President and Chief Financial Officer
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