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Thomson Reuters (NYSE / TSX: TRI), the world’s leading source of intelligent information for businesses and professionals, today announced that it intends to purchase up to 10 million of its common shares through private agreements with four armʹs‐length third‐party sellers. Any shares purchased under these agreements will count towards the company’s existing normal course issuer bid (NCIB), which allows it to buy back up to 30 million common shares between May 28, 2015 and May 27, 2016. The Ontario Securities Commission (OSC) has issued three issuer bid exemption orders permitting the company to make private agreement purchases for up to 10 million shares, which represents no more than one third of the maximum number of shares that may be purchased under the NCIB.
In May 2015, the company announced that it plans to buy back up to US$1.0 billion of its common shares by the end of 2016.
The price that Thomson Reuters will pay for its common shares through private agreements will be at a discount to the prevailing market price on the Toronto Stock Exchange (TSX) at the time of purchase, may be made in one or more trades over time, and must otherwise comply with the terms of the OSC’s orders. Decisions regarding any future repurchases, including through private agreements, will be based on market conditions, share price and other factors, including opportunities to invest capital for growth.
Information regarding each private purchase, including the number of common shares purchased and aggregate purchase price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com following the completion of any such purchase.
