Genworth MI Canada Inc. Announces Acceptance by TSX of Normal Course Issuer Bid

Genworth MI Canada Inc. Announces Acceptance by TSX of Normal Course Issuer Bid 
TORONTO, April 29, 2014 /CNW/ - Genworth MI Canada Inc. (the "Company") (TSX: 
MIC) announced today acceptance by the Toronto Stock Exchange (the "TSX") of 
the Company's Notice of Intention to Make a Normal Course Issuer Bid ("NCIB"). 
Pursuant to the NCIB, Genworth Canada may, if considered advisable, purchase 
through the facilities of the TSX or through other permitted means (including 
through other published markets), from time to time over the next 12 months, 
up to an aggregate of 4,746,504 of its issued and outstanding common shares 
(the "Common Shares"), being approximately 5% of the Common Shares as of April 
22, 2014. 
Purchases may commence through the TSX on May 5, 2014 and will conclude on the 
earlier of the date on which purchases under the bid have been completed and 
May 4, 2015. Daily purchases under the NCIB will be limited to a maximum of 
38,776 Common Shares, other than purchases made in compliance with the 
provisions of the block purchase exemption of the TSX rules and purchases from 
Genworth Financial, Inc., the Company's majority shareholder, and its 
affiliates (collectively, "Genworth Financial"). 
Genworth Financial, will be permitted to sell its Common Shares to the Company 
in accordance with an exemption granted by the TSX pursuant to its rules, 
regulations and policies in connection with the NCIB in order to maintain its 
proportionate percentage ownership at approximately 57.4%.  Genworth Financial 
has advised the Company that it intends to participate in the NCIB.  The 
maximum number of Common Shares that may be purchased pursuant to the NCIB 
will also be reduced by the number of Common Shares purchased by the Company 
from Genworth Financial. 
The Board of Directors of Genworth Canada believes that any purchases pursuant 
to the NCIB, if considered advisable, will be in the best interests of the 
Company and will be a desirable use of corporate funds. All Common Shares 
purchased by Genworth Canada will be cancelled. 
The NCIB will be implemented by the Company's broker responsible for making 
purchases of Common Shares on behalf of Genworth Canada pursuant to an 
automatic purchase plan agreement to be entered into between such broker and 
Genworth Canada (the "APP Agreement").  Pursuant to the APP Agreement, the 
timing for the purchase of Common Shares, the number of Common Shares 
purchased and the price payable for the Common Shares will be determined by 
the Company's broker in its sole discretion, without consultation with the 
Company, having regard to the price limitations and other terms of the APP 
Agreement, as well as the prevailing market price of the Common Shares at the 
time of purchase.  The APP Agreement has been reviewed by the TSX and will be 
implemented following commencement of the NCIB. 
Purchases from Genworth Financial will be made pursuant to the TSX exemption 
on any trading day that the Company makes a purchase from other shareholders. 
Purchases from Genworth Financial will be made during the TSX's Special 
Trading Session pursuant to an automatic disposition plan agreement to be 
entered into between the Company's broker and Genworth Financial. In the event 
that Genworth Financial does not sell Common Shares on any trading day (other 
than as a result of a market disruption), the TSX exemption will cease to 
apply and the Company will not be permitted to make any further purchases from 
Genworth Financial under the terms of the NCIB. 
The Company has made purchases of its Common Shares under a normal course 
issuer bid approved by the TSX on April 30, 2013, and set to expire May 2, 
2014. Purchases from all shareholders other than Genworth Financial were made 
on the open market through the facilities of the TSX and/or through other 
permitted means (including through other published markets). Pursuant to an 
exemption granted by the TSX, Genworth Financial sold its Common Shares to the 
Company outside the provisions of, but concurrently with, the normal course 
issuer bid in order to maintain its proportionate percentage ownership at 
approximately 57.4%.  Purchases from Genworth Financial were made by way of 
put-through during the TSX's Special Trading Session from 4:15 to 5:00 p.m. 
through one broker retained for this purpose. To date, the Company purchased 
for cancellation 3,903,117 of its Common Shares at a weighted average price 
per common share of C$26.90. 
About Genworth MI Canada Inc. 
Genworth MI Canada Inc. (TSX: MIC) through its subsidiary, Genworth Financial 
Mortgage Insurance Company Canada (Genworth Canada), is the largest private 
residential mortgage insurer in Canada. The Company provides mortgage default 
insurance to Canadian residential mortgage lenders, making homeownership more 
accessible to first-time homebuyers. Genworth Canada differentiates itself 
through customer service excellence, innovative processing technology, and a 
robust risk management framework. For almost two decades, Genworth Canada has 
supported the housing market by providing thought leadership and a focus on 
the safety and soundness of the mortgage finance system. As at March 31, 2014, 
Genworth Canada, had $5.5 billion total assets and $3.2 billion shareholders' 
equity. Find out more at www.genworth.ca. 
Cautionary Note Regarding Forward-Looking Statements 
This press release includes certain forward-looking statements. These 
forward-looking statements include, but are not limited to, the Company's 
plans, objectives, expectations and intentions, including the Company's 
expectations regarding future developments in connection with the normal 
course issuer bid and the receipt of regulatory approvals, the Company's 
intention to repurchase common shares from the Company's shareholders, the 
Company's expectations regarding the participation of Genworth Financial, Inc. 
and its affiliates in the normal course issuer bid and other statements 
contained in this release that are not historical facts. These statements may 
be identified by their use of words such as "may", "would", "could", "will", 
"intend", "plan", "anticipate", "believe", "seek", "propose", "estimate", 
"expect", or similar expressions, as they relate to the Company are intended 
to identify forward-looking statements. Specific forward looking statements in 
this document include, but are not limited to, statements with respect to the 
Company's expectations regarding the normal course issuer bid and Genworth 
Financial, Inc.'s participation in the same. These statements are inherently 
subject to significant risks, uncertainties and changes in circumstances, many 
of which are beyond the Company's control. The Company's actual results may 
differ materially from those expressed or implied by such forward-looking 
statements, including as a result of changes in global, political, economic, 
business, competitive, market and regulatory factors, and the other risks 
described in the Company's Annual Information Form. Other than as required by 
applicable laws, the Company undertakes no obligation to publicly update or 
revise any forward-looking statement, whether as a result of new information, 
future developments or otherwise.
 

SOURCE  Genworth MI Canada 
Investors: Samantha Cheung, 905-287-5482, samantha.cheung@genworth.com; Media: 
Lisa Azzuolo, 905-287-5520, lisa.azzuolo@genworth.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/April2014/29/c1944.html 
CO: Genworth Canada
ST: Ontario
NI: REL  
-0- Apr/29/2014 21:33 GMT
 
 
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