The Company expects to take up and pay for 1,851,851 shares at a price of
A total of 2,280,595 shares were tendered pursuant to auction tenders at or below the purchase price or purchase price tenders. Since the bid was oversubscribed, shareholders who made auction tenders at or below the purchase price or purchase price tenders will have approximately 81.17% of their tendered shares purchased by the Company (other than "odd lot" tenders, which are not subject to proration). Any shares not purchased under the bid, including shares not purchased as a result of proration or shares tendered pursuant to auction tenders at prices higher than the purchase price, will be returned to shareholders as soon as practicable by
Payment for and settlement of the purchased shares will be effected by the depositary on or before
Details of the issuer bid are described in the offer to purchase and issuer bid circular of
This press release is for informational purposes only and does not constitute an offer to purchase or the solicitation of an offer to sell shares.
Any questions or requests for information regarding the bid should be directed to
Additional information about
Certain statements contained in this press release are forward-looking statements and information (collectively "forward-looking statements"), within the meaning of applicable Canadian securities legislation. We hereby provide cautionary statements identifying important factors that could cause our actual results to differ materially from those projected in these forward-looking statements. Any statements that express, or involve discussions as to, expectations, beliefs, plans, objectives, assumptions or future events or performance (often, but not always, through the use of words or phrases such as "will likely result", "are expected to", "will continue", "is anticipated", "projection", "vision", "goals", "objective", "target", "schedules", "outlook", "anticipate", "expect", "estimate", "could", "should", "plan", "seek", "may", "intend", "likely", "will", "believe", "shall" and similar expressions) are not historical facts and are forward-looking and may involve estimates and assumptions and are subject to risks, uncertainties and other factors, some of which are beyond our control and difficult to predict. Forward-looking statements in this press release include information relating to the completion of the issuer bid, the number of shares to be purchased by the Company pursuant to the bid and the timing of payment for shares purchased pursuant to the bid.
The forward-looking statements included in this press release are not guarantees of future performance and should not be unduly relied upon. Readers are cautioned that forward-looking statements are based on current expectations, estimates and projections that, by their nature, forward-looking statements involve a number of known and unknown risks and uncertainties, which could cause actual results to differ materially from those anticipated and described in the forward-looking statements. These known and unknown risks and uncertainties include, but are not limited to: future operating results, the impact of the COVID-19 pandemic on our operations, events that interrupt vehicle or parts supply to
Forward-looking statements involve estimates and assumptions and are subject to risks, uncertainties and other factors some of which are beyond our control and difficult to predict. Accordingly, actual results or outcomes may differ materially from those expressed in the forward-looking statements. In particular, in presenting its forward-looking statements,
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