Financial business

Finning announces automatic share purchase plan

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VANCOUVER, British Columbia, December 20, 2021 (GLOBE NEWSWIRE) – Finning International Inc. (TSX: FTT) (“Finning” or the “Company” or “we”, “our” or “our”) announced today that, as part of the normal course issuer bid (“NCIB”) previously announced to purchase for cancellation up to 8,000,000 of our common shares (“shares”), we have entered into a plan Automatic Stock Purchase (“ASPP”) with a designated broker. The ASPP allows the purchase of shares as part of the public tender offer at times when we would not normally be permitted to purchase shares due to regulatory restrictions and customary self-imposed prohibition restrictions.

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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 conditions set out in the ASPP. The Designated Broker will determine the timing of such purchases in its sole discretion based on the purchase parameters established by Finning and subject to the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the PAES. The ASPP has been previously cleared by the TSX and will be implemented effective January 1, 2022. All purchases made under the ASPP will be included in the calculation of the number of shares purchased and canceled by Finning under the public buyback offer.

The offer, 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 predetermined blackout periods, shares can be purchased under the offer on a discretionary basis, in accordance with TSX rules and applicable securities laws.

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Finning International is the world’s largest Caterpillar dealer, providing unmatched service to our customers for nearly 90 years. Based in Surrey, British Columbia, we provide Caterpillar equipment, parts, service and performance solutions to Western Canada, Chile, Argentina, Bolivia, United Kingdom and Ireland.

Contact details:
Amanda hobson
Senior Vice President, Investor Relations and Treasury
(604) 331-4865
[email protected]
www.finning.com

Prospective disclaimer

This press release contains forward-looking information. Information is forward-looking when we use what we know and expect today to provide information about the future. The forward-looking information contained in this press release includes, without limitation, statements regarding the conditions under which the NCIB offer will be operated. All of these forward-looking statements are made in accordance with the “safe harbor” provisions of applicable Canadian securities laws.

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Unless we indicate otherwise, the forward-looking information contained in this press release reflects our expectations as of the date of this press release. Unless required by Canadian securities laws, we assume no 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 many risks and uncertainties and is based on a number of assumptions. This gives rise to the possibility that actual results will differ materially from the expectations expressed or implied by such forward-looking information and that our business prospects, objectives, plans, strategic priorities and other information which are not historical facts may not be achieved. . Accordingly, we cannot guarantee that any forward-looking information will materialize.

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Forward-looking information is provided in this press release for the purpose of providing information about our current expectations and plans and to provide investors and others with a better understanding of our operating environment. However, readers are cautioned that it may not be appropriate to use such forward-looking information for other purposes.

Certain assumptions, risks and other factors that could cause results to differ materially from those expressed in the forward-looking information contained in this press release are discussed in our current annual information form and in our most recent annual and quarterly MD&A for financial risks, including for the discounted risks associated with the COVID-19 pandemic. We caution readers that the risks described in our Annual Information Form and in our most recent Annual and Quarterly MD&A are not the only ones that could affect us. We cannot accurately predict the total impact COVID-19 will have on our business, results of operations, financial condition, or demand for our services, in part due to uncertainties surrounding the ultimate geographic spread of the virus. , the severity of the disease, the duration of the outbreak, the actions our customers and suppliers may take under the current circumstances, including slowing or stopping operations, the duration of travel and quarantine restrictions imposed by governments and other actions that can be taken by governments to respond to the COVID -19 pandemic. Additional risks and uncertainties that are not currently known to us or which are currently considered to be insignificant may also have a material adverse effect on our business, financial condition or results of operations.

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