The Jean Coutu Group Announces Preliminary Results of Substantial Issuer Bid

The Jean Coutu Group Announces Preliminary Results of Substantial Issuer Bid 
LONGUEUIL, QUEBEC -- (Marketwired) -- 11/15/13 -- The Jean Coutu
Group (PJC) Inc. (the "Jean Coutu Group" or the "Corporation")
(TSX:PJC.A) today announces the preliminary results of its offer to
purchase for cancellation up to 22,000,000 Class "A" Subordinate
Voting Shares without par value of the Corporation (the "Shares") at
a price of $18.50 per Share (the "Offer"), which expired at 5:00 pm
(Montreal Time) on Thursday, November 14, 2013.  
The Jean Coutu Group confirmed that all of the terms and conditions
of the Offer have been complied with or waived. Based on the
preliminary count by Computershare Investor Services Inc., as
depositary for the Offer (the "Depositary"), approximately 25,448,246
Shares were validly deposited and not withdrawn under the Offer, and
the Jean Coutu Group expects to take up and accept for payment the
maximum 22,000,000 Shares offered to be purchased under the Offer. As
the aggregate number of Shares deposited under the Offer exceeds
22,000,000 Shares, a proration factor will apply such that
shareholders who have validly deposited Shares under the Offer will
have the number of Shares purchased prorated following determination
of the final results of the Offer. The Jean Coutu Group expects that
shareholders who have deposited Shares pursuant to the Offer will
have approximately 86.4% of their deposited Shares purchased by the
Jean Coutu Group under the Offer. 
The number of Shares validly deposited under the Offer and the
proration factor are preliminary. Final results will be determined
subject to confirmation by the Depositary of the proper delivery of
the Shares validly deposited and not withdrawn. Following
confirmation by the Depositary of the exact number of Shares validly
deposited and not withdrawn, the Jean Coutu Group will release the
final results, including the final proration factor. Certificates for
Shares not purchased under the Offer, including Shares not purchased
because of proration, will be returned to shareholders as soon as
practicable. 
The Shares expected to be repurchased for cancellation represent
approximately 20.46% of the Jean Coutu Group's outstanding Shares
before giving effect to the Offer. After giving effect to the Offer,
the number of issued and outstanding Shares is expected to be
approximately 85,521,199. Of the Shares expected to be purchased
pursuant to the Offer, approximately 18,144,000 will be purchased
from The Fondation Marcelle et Jean Coutu (the "Fondation"), a trust
controlled by Mr. Jean Coutu and his family which pursues purely
philanthropic goals, resulting in Mr. Jean Coutu's interest in the
Jean Coutu Group, directly or indirectly, individually or with
members of his family, decreasing to approximately 56.42% of all of
the Jean Coutu Group's outstanding equity securities, representing
approximately 92.66% of the voting interests in the Jean Coutu Group,
as compared to 59.14% and 92.47%, respectively, prior to the Offer. 
The full details of the Offer are described in the formal offer to
purchase, issuer bid circular and other related documents
(collectively, the "Offer Documents") mailed to shareholders on
October 10, 2013, copies of which were filed on SEDAR at
www.sedar.com.  
This press release is for informational purposes only, and does not
constitute an offer to buy or the solicitation of an offer to sell
any securities of the Corporation.  
About The Jean Coutu Group. The Jean Coutu Group is one of the most
trusted names in Canadian pharmacy retailing. The Corporation
operates a network of 411 franchised stores located in the provinces
of Quebec, New Brunswick and Ontario under the banners of PJC Jean
Coutu, PJC Clinique, PJC Sante and PJC Sante Beaute, that employs
more than 19,000 people. Furthermore, the Jean Coutu Group owns Pro
Doc Ltd, a Quebec-based subsidiary and manufacturer of generic drugs. 
This press release contains forward-looking statements that involve
risks and uncertainties, and which are based on the Corporation's
current expectations, estimates, projections and assumptions made by
the Jean Coutu Group in light of its experience and its perception of
historical trends. All statements that address expectations or
projections about the future, including statements about the Offer,
the Corporation's strategy for growth, costs, operating or financial
results, are forward-looking statements. All statements other than
statements of historical facts, including statements regarding our
expectations with respect to the actual number of Shares to be taken
up and paid for in connection with the Offer, the proration factor,
and the number of Shares issued and outstanding after giving effect
to the Offer, may be forward-looking statements within the meaning of
the Canadian securities legislation and regulations. Some of the
forward-looking statements may be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "project", "could", "anticipate", "plan",
"foresee", "believe" or "continue", the negatives of these terms, the
variations of them or the use of other similar terms. Although the
Corporation believes that the expectations reflected in these
forward-looking statements are reasonable, it can give no assurance
that these expectations will prove to have been correct. These
statements are not guarantees of future performance and involve a
number of risks, uncertainties and assumptions. While the list below
of cautionary statements is not exhaustive, some important factors
that could affect our future operating results, financial position
and cash flows and could cause our actual results to differ
materially from those expressed in these forward-looking statements,
include the success of the Corporation's business model, changes in
laws and regulations, or in their interpretations, changes to tax
regulations and accounting pronouncements, the accuracy of
management's assumptions, including those relating to the Offer
(including, without limitation, our assumptions, beliefs and
expectations regarding the completeness and accuracy of information
provided by the Depositary in respect of the Offer and the Jean Coutu
Group share capital), and other factors that are beyond our control. 
These and other factors could cause our actual performance and
financial results in future periods to differ materially from any
estimates or projections of future performance or results expressed
or implied by such forward-looking statements. Investors and others
are cautioned that undue reliance should not be placed on any
forward-looking statements. For more information on the risks,
uncertainties and assumptions that would cause the Corporation's
actual results to differ from current expectations, please also refer
to the Corporation's public filings available at www.sedar.com and
www.jeancoutu.com. In particular, further details and descriptions of
these and other factors are disclosed in the Corporation's Annual
Information Form under "Risk Factors" as well as in the "Critical
Accounting Estimates", the "Risks and uncertainties" and the
"Strategies and outlook" sections of the MD&A for the fiscal year
ended March 2, 2013. We expressly disclaim any obligation or
intention to update or revise any forward-looking statements, whether
as a result of new information, future events or any other reason,
unless required by the applicable securities laws.
Contacts:
Source:
The Jean Coutu Group (PJC) Inc.
Andre Belzile
Senior Vice-President, Finance and Corporate Affairs
(450) 646-9611 
Information:
Helene Bisson
Vice-President, Communications
(450) 646-9611, Ext. 1165
 
 
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