Bombardier: Normal Course Issuer Bid
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Bombardier Inc. /
Bombardier: Normal Course Issuer Bid
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The issuer is solely responsible for the content of this announcement.
MONTREAL, QUEBEC--(Marketwire - June 15, 2011) - With the approval of the
Toronto Stock Exchange, the Board of Directors of Bombardier Inc. ("Bombardier"
or the "Corporation") (TSX:BBD.A)(TSX:BBD.B) has authorized the Corporation to
purchase, in the normal course of its activities, from June 17, 2011 to June
16, 2012, up to 2,006,000 Class B shares (subordinate voting), representing
approximately 0.13931% of its Class B shares (subordinate voting) issued and
outstanding on June 8, 2011, and up to 438,263 Class A shares (multiple voting),
representing approximately 0,13931% of its Class A shares (multiple voting)
issued and outstanding on June 8, 2011. As of June 8, 2011, the Corporation had
1,439,906,556 Class B shares (subordinate voting) issued and outstanding and
314,584,537 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. Purchases may also be made through
the facilities of alternative Canadian trading platforms (such as Alpha, Pure
Trading, Chi-X, Omega and MATCH Now) in addition to through the facilities of
the Toronto Stock Exchange. The Corporation believes this will provide enhanced
flexibility in the operation of the normal course issuer bid. 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 6,549,429 Class B shares (subordinate voting) and 76,141 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 1,637,357 Class B
shares (subordinate voting) and 19,035 Class A shares (multiple voting) per day.
In excess of the daily 1,637,357 Class B shares (subordinate voting) and 19,035
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).
The Corporation did not purchase any securities within the past 12 months under
its previous normal course issuer bid which ended on April 8, 2011.
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 January 31, 2011, were $17.7 billion, 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 or follow us
on Twitter (at)BombardierInc.
Bombardier Inc.
Isabelle Rondeau
Director, Communications
+514-861-9481
Bombardier Inc.
Shirley Chenier
Senior Director, Investor Relations
+514-861-9481
www.bombardier.com
--- End of Message ---
Bombardier Inc.
800 Rene-Levesque Blvd. West Montreal, QC Canada
Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Bombardier Inc. via Thomson Reuters ONE
[HUG#1523727]
Unternehmensinformation / Kurzprofil:
Datum: 15.06.2011 - 16:18 Uhr
Sprache: Deutsch
News-ID 55584
Anzahl Zeichen: 5919
contact information:
Town:
West Montreal, QC
Kategorie:
Business News
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