CGI Group Inc. announced today that it intends to purchase for cancellation, on or before February 10, 2016, up to an additional 410,735 of its Class A subordinate voting shares (“Class A Shares”), for an aggregate of up to 6,350,735 pursuant to private agreements between CGI and arm’s length third-party sellers. These purchases will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission. The price that CGI will pay for Class A Shares purchased under such agreements will be negotiated between CGI and the seller and will be at a discount to the prevailing market price of CGI’s Class A Shares on the Toronto Stock Exchange (“TSX”) at the time of the purchase.
These purchases will be made under CGI’s normal course issuer bid (“NCIB”), the renewal of which was announced on January 28, 2015. The NCIB allows for purchases outside the facilities of the TSX by private agreements pursuant to exemption orders issued by securities regulatory authorities. The maximum number of Class A Shares which may be purchased by way of private agreements cannot exceed 6,350,735 Class A Shares, being one-third of the 19,052,207 Class A Shares that CGI is authorized to purchase under its NCIB before February 10, 2016. As at September 11, 2015, 6,282,000 Class A Shares had been purchased under the current NCIB, including 5,940,000 Class A Shares purchased by way of private agreements.
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