MONTREAL, Sept. 30, 2021 /CNW Telbec/ - METRO INC. (TSX:
MRU) announces that it is amending its normal course issuer bid
program and that such amendment has been approved by the Toronto
Stock Exchange. This amendment allows the Corporation to repurchase
in the normal course of business an additional 1,500,000 of its
Common Shares, bringing the total number of its Common Shares that
can be repurchased under the program to 8,500,000, representing
approximately 3.4% of its issued and outstanding shares on
November 11, 2020. Since the
beginning of its current normal course issuer bid program, the
Corporation repurchased 7,000,000 Common Shares at a weighted
average price of $57.68 per share for
a total of $403,735,402. Repurchases
were made through the facilities of the Toronto Stock Exchange at
market price, in accordance with its policies and regulations, and
through the facilities of alternative trading systems.
When it renewed its normal course issuer bid program, the
Corporation was authorized to repurchase, in the normal course of
business, between November 25, 2020
and November 24, 2021, up to
7,000,000 of its Common Shares representing approximately 2.8% of
its issued and outstanding shares on November 11, 2020. On November 11, 2020, there were 250,195,026 issued
and outstanding shares of which 207,099,132 were part of the
outstanding public float of the Corporation. On November 11, 2020, the average daily trading
volume of the Corporation's Common Shares over the last six (6)
completed months was 539,248 shares. No other terms of the normal
course issuer bid program have changed.
The Corporation's amended normal course issuer bid program will
come into effect on October 4, 2021
and will continue through November 24,
2021. Repurchases will continue to be made through the
facilities of the Toronto Stock Exchange at market price, in
accordance with its policies and regulations, or through the
facilities of alternative trading systems as well as by other
means as may be permitted by a securities regulatory authority,
including by private agreements.
METRO INC.
With annual sales of $18 billion,
METRO Inc. is a food and pharmacy leader in Québec and Ontario. As a retailer, franchisor,
distributor, and manufacturer, the company operates or services a
network of some 950 food stores under several banners including
Metro, Metro Plus, Super C and Food Basics, as well as some 650
drugstores primarily under the Jean Coutu, Brunet, Metro Pharmacy
and Food Basics Pharmacy banners, providing employment to almost
90,000 people. For more details, visit corpo.metro.ca.
SOURCE METRO INC.