The FINANCIAL– Colliers International Group Inc. (“Colliers”) announced today that it has established an automatic share purchase plan (“ASPP”) in connection with its previously announced normal course issuer bid (the “NCIB”) applicable to its outstanding subordinate voting shares (the “Subordinate Voting Shares”).
The ASPP is intended to allow for the purchase of Subordinate Voting Shares under the NCIB at times when Colliers would ordinarily not be permitted to purchase its securities due to regulatory restrictions and customary self-imposed blackout periods, according to Colliers.
Pursuant to the ASPP, purchases will be made by Colliers’ designated broker based on pre-established purchasing parameters, without further instructions by Colliers, in compliance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented beginning on October 3, 2022 and, if not terminated sooner based on the terms of the ASPP, will terminate on October 28, 2022.
The NCIB commenced on July 20, 2022 and will end not later than July 19, 2023. All purchases made under the ASPP will be included in computing the number of Subordinate Voting Shares purchased under the NCIB.
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 63 countries, our 17,000 enterprising professionals work collaboratively to provide expert real estate and investment advice to clients. For more than 27 years, our experienced leadership with significant inside ownership has delivered compound annual investment returns of 20% for shareholders. With annual revenues of $4.5 billion and $81 billion of assets under management, Colliers maximizes the potential of property and real assets to accelerate the success of our clients, our investors, and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn.