Bombardier Inc.: Normal Course Issuer Bid
(Thomson Reuters ONE) -
MONTREAL, QUEBEC--(Marketwire - April 1, 2010) - (TSX: BBD.A
of the Toronto Stock Exchange, the Board of Directors of Bombardier Inc.
("Bombardier" or the "Corporation") has authorized the Corporation to purchase,
in the normal course of its activities, from April 9, 2010 to April 8, 2011, up
to 3,000,000 Class B shares (subordinate voting), representing approximately
0.21% of its Class B shares (subordinate voting) issued and outstanding on March
25, 2010, and up to 660,000 Class A shares (multiple voting), representing
approximately 0.21% of its Class A shares (multiple voting) issued and
outstanding on March 25, 2010. As of March 25, 2010, the Corporation had
1,438,615,906 Class B shares (subordinate voting) issued and outstanding and
316,133,737 Class A shares (multiple voting) issued and outstanding.
Under this authorization, the purchases will be made through the facility of the
Toronto Stock Exchange in accordance with its requirements, at market price at
the time of acquisition, plus brokerage fees. The Class B shares (subordinate
voting) and Class A shares (multiple voting) thereby purchased will be
cancelled. Certain insiders of Bombardier may sell securities of Bombardier
during the course of the normal course issuer bid.
The average daily trading volume of the Corporation's shares on the Toronto
Stock Exchange over the last six completed calendar months (the ADTV) was equal
to 5,971,410 Class B shares (subordinate voting) and 81,169 Class A shares
(multiple voting). Accordingly, since the Corporation is entitled, under the
Toronto Stock Exchange requirements, to purchase up to 25% of the ADTV of each
such class of shares on any trading day, it can purchase 1,492,852 Class B
shares (subordinate voting) and 20,292 Class A shares (multiple voting) per day.
In excess of the daily 1,492,852 Class B shares (subordinate voting) and 20,292
Class A shares (multiple voting) repurchase limit, the Corporation may also
purchase, once a week, a block of Class B shares (subordinate voting) and a
block of Class A shares (multiple voting) not owned by an insider, which may
exceed such daily limit, in accordance with the Toronto Stock Exchange
requirements.
Bombardier believes that the purchase of its Class B shares (subordinate voting)
and Class A shares (multiple voting) would represent an effective use of its
funds and would be in the best interests of the Corporation and its
shareholders.
Under normal circumstances, the Corporation plans to use its normal course
issuer bid to minimize any dilutive effect caused by the issuance of Class B
shares (subordinate voting) under certain of its security based compensation
arrangements.
The Corporation may, subject to obtaining the prior written approval of the
Toronto Stock Exchange, enter into derivative transactions in the normal course
of business, including forward contracts, pursuant to which it may acquire its
Class B shares (subordinate voting) and Class A shares (multiple voting).
Shareholders may obtain a free copy of the documents filed with the Toronto
Stock Exchange concerning this normal course issuer bid by writing to the
Corporate Secretary of Bombardier.
About Bombardier
A world-leading manufacturer of innovative transportation solutions, from
commercial aircraft and business jets to rail transportation equipment, systems
and services, Bombardier Inc. is a global corporation headquartered in
Canada.Its revenues for the fiscal year ended Jan. 31, 2010, were $19.4 billion
US, and its shares are traded on the Toronto Stock Exchange (BBD). Bombardier is
listed as an index component to the Dow Jones Sustainability World and North
America indexes. News and information are available at www.bombardier.com
Contacts:
Bombardier Inc.
Isabelle Rondeau
Director, Communications
514-861-9481
www.bombardier.com
Bombardier Inc.
Shirley Chenier
Senior Director, Investor Relations
514-861-9481
[HUG#1400465]
Unternehmensinformation / Kurzprofil:
Datum: 01.04.2010 - 22:53 Uhr
Sprache: Deutsch
News-ID 18548
Anzahl Zeichen: 0
contact information:
Town:
West Montreal, QC
Kategorie:
Business News
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