The maximum number of common shares that may be repurchased under the NCIB represents approximately two percent (2%) of the issued and outstanding common shares of CAE; as of
Under CAE's current normal course issuer bid, which will expire on
Purchases under the NCIB will be made through the facilities of the
During the period that the NCIB is outstanding, CAE does not intend to make purchases of its common shares other than by means of open market. CAE may also purchase common shares privately from time to time after obtaining exemption orders from applicable securities regulatory authorities. Any such private purchase made under an exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in the exemption order.
The average daily trading volume of CAE's common shares through the facilities of the TSX over the last six completed calendar months was 473,964 ("ADTV"). Accordingly, under the TSX Rules and policies, CAE is entitled on any trading day to purchase up to 25% of the ADTV, which totals 118,491 common shares, for the 12-month period of the NCIB, starting on
The NCIB is being established as part of CAE's capital allocation strategy and is intended to be used primarily to mitigate the dilutive effect of treasury shares issued under CAE's dividend reinvestment and stock option plans. CAE's Board of Directors believes that such purchases are in the best interest of CAE and that such purchases constitute a desirable use of funds that should enhance shareholder value.
About CAE
CAE is a global leader in training for the civil aviation, defense and security, and healthcare markets. Backed by a record of more than 70 years of industry firsts, we continue to help define global training standards with our innovative virtual-to-live training solutions to make flying safer, maintain defense force readiness and enhance patient safety. We have the broadest global presence in the industry, with over 10,000 employees, 160 sites and training locations in over 35 countries. Each year, we train more than 220,000 civil and defense crewmembers, including more than 135,000 pilots, and thousands of healthcare professionals worldwide. www.cae.com
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