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MONTREAL, Dec. 15, 2017 /CNW Telbec/ - Quebecor Inc. received approval from the Toronto Stock Exchange to amend its normal course issuer bid (« NCIB ») in order to increase the maximum number of Class B Subordinate Voting Shares (the « Class B Shares ») that may be repurchased, being 4,000,000 Class B Shares (this number has been adjusted in order to reflect the 2 for 1 stock split that occurred on November 15, 2017), representing 2.4% of the Class B Shares issued and outstanding as of August 1st, 2017 (the reference date for the NCIB), to 8,400,000 Class B Shares, representing approximately 9.9% of the Class B Shares public float on the reference date. No other terms of the NCIB have been amended.
Purchases under the NCIB began on August 15, 2017, will end no later than August 14, 2018, and are made through the facilities of the Toronto Stock Exchange in accordance with its requirements, or other alternative trading systems. Under its current NCIB, as of December 13, 2017, the Corporation has repurchased 2,904,700 Class B Shares, at a weighted-average price of $24.06.
Quebecor, a Canadian leader in telecommunications, entertainment, news media and culture, is one of the best-performing integrated communications companies in the industry. Driven by their determination to deliver the best possible customer experience, all of Quebecor's subsidiaries and brands are differentiated by their high-quality, multiplatform, convergent products and services.
Quebecor (TSX: QBR.A, QBR.B) is headquartered in Québec. It holds an 81.53% interest in Quebecor Media, which employs more than 10,000 people in Canada.
A family business founded in 1950, Quebecor is strongly committed to the community. Every year, it actively supports more than 400 organizations working in the vital fields of culture, health, education, the environment and entrepreneurship.
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