Canaccord Financial Inc. discloses amendment of normal course issuer
TORONTO, June 27, 2013 /CNW/ - Canaccord Financial Inc. (the "Company") (TSX:
CF, LSE: CF.) wishes to announce the amendment of its normal course issuer bid
(NCIB)/buy-back programme announced on August 13, 2013.
In addition to purchases made through the facilities of the TSX, the Company
and its designated broker will make purchases on alternative trading systems
in accordance with the requirements of the TSX.
The Company has also entered into a pre-defined plan with a designated broker
to allow for the repurchase of its common shares under its previously
announced normal course issuer bid. The Company's broker may repurchase the
common shares under the plan on any trading during the normal course issuer
bid, including during the Company's internal trading blackout periods. The
plan has been reviewed by the Toronto Stock Exchange and will terminate on the
earlier of the termination of the plan by the Company in accordance with its
terms and the expiry of the bid.
The Company is engaged in the normal course issuer bid to provide for the
ability to purchase, at the Company's discretion, up to 3,000,000 of its
common shares through the facilities of the TSX. The purpose of the purchase
of common shares under the normal course issuer bid is to enable the Company
to acquire shares for cancellation.
In order to comply with the trading rules of the TSX and the conditions for
trading under the EU Buy-back and Stabilisation Regulation, the daily
purchases are limited to 40,468 common shares of the Company (which is the
lesser of (a) 25% of the average daily trading volume of common shares of the
Company on the TSX in the six calendar months from February 2012 to July 2012
and (b) 25% of the average daily trading volume of common shares of the
Company on the TSX in the month of July 2012). To fulfill its regulatory
reporting requirements in Canada and in the UK, Canaccord will issue a press
release no later than the end of the seventh daily market session following
the date of execution of the purchases.
ABOUT CANACCORD FINANCIAL INC.:
Through its principal subsidiaries, Canaccord Financial Inc. is a leading
independent, full-service financial services firm, with operations in two
principal segments of the securities industry: wealth management and global
capital markets. Since its establishment in 1950, Canaccord has been driven
by an unwavering commitment to building lasting client relationships. We
achieve this by generating value for our individual, institutional and
corporate clients through comprehensive investment solutions, brokerage
services and investment banking services. Canaccord has offices in 13
countries worldwide, including Wealth Management offices located in Canada,
Australia, the UK and Europe. Canaccord Genuity, the international capital
markets division, operates in Canada, the US, the UK, France, Germany,
Ireland, Italy, Hong Kong, mainland China, Myanmar, Singapore, Australia and
Canaccord Financial Inc. is publicly traded under the symbol CF on the TSX and
the symbol CF. on the London Stock Exchange.
North America media: Scott Davidson Executive Vice President, Global Head of
Corporate Development and Strategy Phone: 416-869-3875,
For investor relations inquiries contact: Andrea Sergautis Manager, Investor
Relations & Communications Phone: 416-687-5507,
London media: Bobby Morse or Ben Romney Buchanan (London) Phone: +44 (0) 207
466 5000, email:firstname.lastname@example.org
Broker: Oliver Hearsey or James Kelly RBC Europe Limited Phone: +44 (0) 20
7653 4000, email:email@example.com
SOURCE: Canaccord Financial Inc.
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CO: Canaccord Financial Inc.
-0- Jun/27/2013 15:40 GMT
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