Business and Operations
Weston enters automatic share purchase plan
By Bakers Journal
George Weston Limited announced its entry to an automatic share purchase plan (“ASPP”) to repurchase its common shares under its normal course issuer bid.
Weston previously stated it had received approval from the Toronto Stock Exchange purchase up to 7,596,891 Common Shares, representing roughly 5 per cent of common shares issued.
During the effective period of Weston’s ASPP, Weston’s broker may purchase Common Shares at times when Weston would not be active in the market due to insider trading rules and its own internal trading blackout periods.
Purchases will be made by Weston’s broker based upon parameters set by Weston and in accordance with the terms of the ASPP. Outside of the effective period of the ASPP, Common Shares may continue to be purchased in accordance with Weston’s discretion, subject to applicable law. The ASPP has been entered into in accordance with the requirements of applicable Canadian securities laws.