Finning Announces Automatic Share Purchase Plan
21 Décembre 2021 - 12:06AM
Finning International Inc. (TSX: FTT) (“Finning” or the “Company”
or “we”, “our” or “us”) today announced that, in connection with
the previously announced normal course issuer bid ("NCIB") to
purchase for cancellation up to 8,000,000 of our common shares
("shares"), we have entered into an automatic share purchase plan
("ASPP") with a designated broker. The ASPP allows for the purchase
of shares under the NCIB at times when we would ordinarily not be
permitted to purchase shares due to regulatory restrictions and
customary self-imposed blackout restrictions.
The ASPP provides a set of standard instructions to the
designated broker to make purchases under the NCIB in accordance
with the limits and other terms set out in the ASPP. The designated
broker will determine the timing of these purchases in its sole
discretion based on purchasing parameters set by Finning and
subject to the rules of the Toronto Stock Exchange ("TSX"),
applicable securities laws, and the terms of the ASPP. The ASPP has
been pre-cleared by the TSX and will be implemented as of January
1, 2022. All purchases made under the ASPP will be included in
computing the number of shares purchased and cancelled by Finning
under the NCIB.
The NCIB, which was renewed by Finning on May 10, 2021, began on
May 13, 2021, and will end no later than May 12, 2022. Outside of
pre-determined blackout periods, shares may be purchased under the
NCIB based on management's discretion, in compliance with TSX
rules, and applicable securities laws.
Finning International is the world’s largest Caterpillar dealer
delivering unrivalled service to customers for nearly 90 years.
Headquartered in Surrey, British Columbia, we provide Caterpillar
equipment, parts, services, and performance solutions in Western
Canada, Chile, Argentina, Bolivia, the United Kingdom, and
Ireland.
Contact Information:Amanda HobsonSenior Vice
President, Investor Relations and Treasury(604)
331-4865amanda.hobson@finning.com www.finning.com
Forward-Looking Disclaimer
This news release contains information that is
forward-looking. Information is forward-looking when we use what we
know and expect today to give information about the future.
Forward-looking information in this news release includes, but is
not limited to, statements with respect to the terms under which
the NCIB will be operated. All such forward-looking statements are
made pursuant to the ‘safe harbour’ provisions of applicable
Canadian securities laws.
Unless we indicate otherwise, forward-looking
information in this news release reflects our expectations at the
date in this news release. Except as may be required by Canadian
securities laws, we do not undertake any obligation to update or
revise any forward-looking information, whether as a result of new
information, future events, or otherwise.
Forward-looking information, by its very nature,
is subject to numerous risks and uncertainties and is based on a
number of assumptions. This gives rise to the possibility that
actual results could differ materially from the expectations
expressed in or implied by such forward-looking information and
that our business outlook, objectives, plans, strategic priorities
and other information that is not historical fact may not be
achieved. As a result, we cannot guarantee that any forward-looking
information will materialize.
Forward-looking information is provided in this
news release for the purpose of giving information about our
current expectations and plans and allowing investors and others to
get a better understanding of our operating environment. However,
readers are cautioned that it may not be appropriate to use such
forward-looking information for any other purpose.
Some of the assumptions, risks, and other
factors which could cause results to differ materially from those
expressed in the forward-looking information contained in this news
release are discussed in our current AIF and in our annual and most
recent quarterly MD&A for the financial risks, including for
updated risks related to the COVID-19 pandemic. We caution readers
that the risks described in our AIF and in our annual and most
recent quarterly MD&A are not the only ones that could impact
us. We cannot accurately predict the full impact that COVID-19 will
have on our business, results of operations, financial condition or
the demand for our services, due in part to the uncertainties
relating to the ultimate geographic spread of the virus, the
severity of the disease, the duration of the outbreak, the steps
our customers and suppliers may take in current circumstances,
including slowing or halting operations, the duration of travel and
quarantine restrictions imposed by governments and other steps that
may be taken by governments to respond to the COVID-19 pandemic.
Additional risks and uncertainties not currently known to us or
that are currently deemed to be immaterial may also have a material
adverse effect on our business, financial condition, or results of
operations.
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