Loblaw Companies Limited (TSX: L) (“Loblaw”) announces that it has entered into an Automatic Stock Purchase Plan (“ASPP”) with a broker to facilitate the repurchase of Loblaw’s common stock (“Common Shares”) pursuant to its previously announced ”) Program Normal Curriculum Issuer Bidding (“NCIB”).
Loblaw previously announced that it has received approval from the Toronto Stock Exchange (“TSX”) to acquire up to 16,647,384 shares of common stock, representing approximately 5% of 332,947,684 common shares and common shares outstanding as of April 21, 2022, through NCIB on the TSX or through an alternative trading system or otherwise permitted by applicable law.
During Loblaw’s ASPP, Loblaw’s brokers may purchase common stock at times when Loblaw would not be active in the market due to internal trading rules and its own internal trading controls. Loblaw’s brokers will make purchases according to parameters established by Loblaw in accordance with the terms of the ASPP when they are not in possession of material nonpublic information about themselves and their securities. Beyond the term of the ASPP, Loblaw may, in its sole discretion and in accordance with applicable law, continue to purchase common stock. The ASPP was completed in accordance with the requirements of applicable Canadian securities laws.
