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Be the first with the news that moves the market- Between February 6, 2023, and end on February 5, 2024, CGI may purchase up to 18,769,394 Class A shares for cancellation
- The daily purchase limit under the NCIB on the TSX will be 81,477 Class A shares
- Under its current NCIB ending on February 5, 2023, the company has repurchased a total of 6,449,173 Class A shares at a weighted average price of $101.84 per share
- CGI is a Canada-based IT services provider operating in North America and Europe
- CGI Inc. (GIB.A) opened trading at C$114.04
CGI (GIB.A) has announced the renewal of its Normal Course Issuer Bid, subject to approval by the Toronto Stock Exchange.
Under the terms of the NCIB, the company may purchase for cancellation up to 18,769,394 Class A shares, representing approximately 10 per cent of the company’s public float as of the close of business on January 24, 2023.
The daily purchase limit under the NCIB on the TSX will be 81,477 Class A shares.
All Class A shares purchased under the bid will be cancelled.
The NCIB will commence on February 6, 2023, and end on February 5, 2024.
Under its current NCIB ending on February 5, 2023, the company received the approval of the TSX to repurchase for cancellation up to 18,781,981 Class A Shares. As of January 24, 2023, CGI has repurchased 6,449,173 Class A shares at a weighted average price of $101.84 per share, for a total of $656,763,789.
CGI has implemented an automatic share purchase plan with its designated broker in connection with the NCIB in order to allow share purchases for cancellation during self-imposed blackout periods.
CGI Inc. is a Canada-based IT services provider with a presence in North America and Europe. The company generates more than C$12 billion in annual revenue, employs over 90,000 personnel, and operates across 400 offices in 40 countries.
CGI Inc. (GIB.A) opened trading at C$114.04.
