Saputo Announces it May Purchase Up to 1,700,000 Common Shares Through Private
Agreements Under Its Normal Course Issuer Bid
MONTREAL, QUEBEC -- (Marketwired) -- 06/06/13 -- 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.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of securities laws. These statements are based, among other
things, on Saputo's assumptions, expectations, estimates, objectives,
plans and intentions as of the date hereof regarding projected
revenues and expenses, the economic, industry, competitive and
regulatory environments in which the Company operates or which could
affect its activities, its ability to attract and retain customers
and consumers, as well as the availability and cost of milk and other
raw materials and energy supplies, its operating costs and the
pricing of its finished products on the various markets in which it
carries on business.
These forward-looking statements include, among others, statements
with respect to the Company's short and medium term objectives,
outlook, business projects and strategies to achieve those
objectives, as well as statements with respect to the Company's
beliefs, plans, objectives and expectations. The words "may",
"should", "will", "would", "believe", "plan", "expect", "intend",
"anticipate", "estimate", "foresee", "objective", "continue",
"propose" or "target", or the negative of these terms or variations
of them, the use of the conditional or future tense or words and
expressions of similar nature, are intended to identify
By their nature, forward-looking statements are subject to a number
of inherent risks and uncertainties. Actual results could differ
materially from the conclusion, forecast or projection stated in such
forward-looking statements. As a result, the Company cannot guarantee
that any forward-looking statements will materialize. Assumptions,
expectations and estimates made in the preparation of forward-looking
statements and risks that could cause actual results to differ
materially from current expectations are discussed in the Company's
materials filed with the Canadian securities regulatory authorities
from time to time, including the "Risks and Uncertainties" section of
the Management's Discussion and Analysis, included in the Company's
2013 Annual Report.
Forward-looking statements are based on Management's current
estimates, expectations and assumptions, which Management believes
are reasonable as of the date hereof, and, accordingly, are subject
to changes after such date. You should not place undue importance on
forward-looking statements and should not rely upon this information
as of any other date.
Except as required under applicable securities legislation, Saputo
does not undertake to update or revise these forward-looking
statements, whether written or verbal, that may be made from time to
time by itself or on its behalf, whether as a result of new
information, future events or otherwise.
Saputo produces, markets, and distributes a wide array of dairy
products of the utmost quality, including cheese, fluid milk,
extended shelf-life milk and cream products, cultured products and
dairy ingredients. Saputo is one of the top ten dairy processors in
the world, the largest in Canada, the third largest in Argentina and
among the top three cheese producers in the United States. Our
products are sold in more than 40 countries under well-known brand
names such as Saputo, Alexis de Portneuf, Armstrong, Baxter,
Dairyland, Dragone, DuVillage 1860, Friendship, Frigo Cheese Heads,
Great Midwest, King's Choice, Kingsey, La Paulina, Milk2Go, Neilson,
Nutrilait, Ricrem, Salemville, Stella and Treasure Cave. Saputo Inc.
is a publicly traded company whose shares are listed on the Toronto
Stock Exchange under the symbol "SAP".
Media and Investor Relations
Director, Corporate Communications
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