Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
www.cgi.com/newsroom
MONTRÉAL, Dec. 2, 2016
/PRNewswire/ - CGI Group Inc. (TSX: GIB.A) (NYSE: GIB) announced
today that it intends to purchase for cancellation Class A
subordinate voting shares ("Class A Shares") under a specific share
repurchase program (the "Program"). The Program will form part of
the current normal course issuer bid (the "NCIB"), the renewal of
which was announced on January 27,
2016, for up to 21,425,992 Class A shares.
CGI has entered into a program agreement (the "Agreement") with
a third party to repurchase Class A Shares through daily purchases
that will take place between December 7,
2016 and February 3, 2017,
subject to a maximum of 2,750,000 Class A Shares. Pursuant to the
terms of the Agreement, and subject to the conditions of an issuer
bid exemption order issued by the Ontario Securities Commission
(the "Order"), the third party will purchase Class A shares on
Canadian markets for the purpose of ultimately fulfilling its
delivery obligations to CGI under the Agreement. The price that CGI
will pay for any Class A Shares purchased by it from the third
party under the Agreement will be negotiated by CGI and the third
party and will be at a discount to the volume weighted average
trading price of the Class A shares on the Canadian markets on the
date of the purchase. Information regarding the number of Class A
Shares purchased and the aggregate price paid will be available on
Sedar following the completion of the Program.
Pursuant to the terms of the Agreement and the Order, all
purchases made by the third party or its agents on the Toronto
Stock Exchange ("TSX") and other Canadian markets pursuant to the
Program will be made in accordance with the TSX rules applicable to
the NCIB, subject to limited exceptions as provided in the Order.
In addition, CGI and any non-independent purchasing agent acting on
its behalf are prohibited from purchasing any other Class A Shares
from December 7, 2016 until the
earlier of February 3, 2017 and the
date on which CGI will have purchased the maximum number of Class A
Shares under the Program. CGI will acquire Class A shares from the
third party pursuant to the Agreement as part of the NCIB and such
Class A Shares will be cancelled upon purchase by CGI.
About CGI
Founded in 1976, CGI Group Inc. is the fifth
largest independent information technology and business process
services firm in the world. Approximately 68,000 professionals
serve thousands of global clients from offices and delivery centers
across the Americas, Europe and
Asia Pacific, leveraging a
comprehensive portfolio of services including high-end business and
IT consulting, systems integration, application development and
maintenance, infrastructure management as well as 150 IP-based
services and solutions. With annual revenue in excess of
C$10 billion and an order backlog
exceeding C$20 billion, CGI shares
are listed on the TSX (GIB.A) and the NYSE (GIB).
Website: www.cgi.com.
Forward-Looking Statements
All statements in this press release that do not directly and
exclusively relate to historical facts constitute "forward-looking
statements" within the meaning of that term in Section 27A of
the United States Securities Act of 1933, as amended, and
Section 21E of the United States Securities Exchange Act of
1934, as amended, and are "forward-looking information" within the
meaning of Canadian securities laws. These statements and this
information represent CGI's intentions, plans, expectations and
beliefs, and are subject to risks, uncertainties and other factors,
of which many are beyond the control of the Company. These factors
could cause actual results to differ materially from such
forward-looking statements or forward-looking information. These
factors include but are not restricted to: the timing and size of
new contracts; acquisitions and other corporate developments; the
ability to attract and retain qualified employees; market
competition in the rapidly evolving information technology
industry; general economic and business conditions; foreign
exchange and other risks identified in the press release, in CGI's
annual and quarterly Management's Discussion and Analysis and in
other public disclosure documents filed with the Canadian
securities authorities (on SEDAR at www.sedar.com) and with the
U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov),
as well as assumptions regarding the foregoing. The words
"believe", "estimate", "expect", "intend", "anticipate", "foresee",
"plan", and similar expressions and variations thereof, identify
certain of such forward-looking statements or forward-looking
information, which speak only as of the date on which they are
made. In particular, statements relating to future performance are
forward-looking statements and forward-looking information. CGI
disclaims any intention or obligation to publicly update or revise
any forward-looking statements or forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable law. Readers are cautioned not to
place undue reliance on these forward-looking statements or on this
forward-looking information.
SOURCE CGI Group Inc.