Thomson Reuters
Intends to Purchase up to 3 Million Shares Through Private
Agreements
Purchases will be part of previously
announced buyback program
NEW YORK, March 18, 2016 -- Thomson Reuters (NYSE / TSX:
TRI), the world's leading source of intelligent information for
businesses and professionals, today announced that it intends to
purchase up to 3 million of its common shares through private
agreements with an arm?s-length third-party seller. Any shares
purchased under these agreements will count towards the company's
existing normal course issuer bid (NCIB), which allows it to buy
back up to 39.2 million common shares between May 28, 2015 and May 27,
2016. The Ontario Securities Commission (OSC) has issued an
issuer bid exemption order permitting the company to make such
private agreement purchases.
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These private agreement purchases are part of the company's plan
announced in February 2016 to
purchase up to an additional US$1.5
billion of its common shares.
The price that Thomson Reuters will pay for its common shares
through private agreements will be at a discount to the prevailing
market price on the Toronto Stock Exchange (TSX) at the time of
purchase, may be made in one or more trades over time, and must
otherwise comply with the terms of the OSC's order. Decisions
regarding any future repurchases, including through private
agreements, will depend on the timing for the sale of the company's
Intellectual Property & Science business in addition to other
factors, such as market conditions, share price and opportunities
to invest capital for growth.
Information regarding each private purchase, including the
number of common shares purchased and aggregate purchase price,
will be available on the System for Electronic Document Analysis
and Retrieval (SEDAR) at www.sedar.com following the completion of
any such purchase.
To date, Thomson Reuters has purchased 10 million common shares
under its NCIB pursuant to private agreements. The number of common
shares which may be purchased under private agreements may not
exceed 13,066,666, being one-third of the total number of common
shares which may be purchased under the NCIB.
Thomson Reuters
Thomson Reuters is the world's leading source of news and
information for professional markets. Our customers rely on us
to deliver the intelligence, technology and expertise they need to
find trusted answers. The business has operated in more than 100
countries for more than 100 years. Thomson Reuters shares are
listed on the Toronto and New York
Stock Exchanges (symbol: TRI). For more information, visit
http://www.thomsonreuters.com/.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking,
including the company's intention to purchase shares through
private agreements. These forward-looking statements are based on
certain assumptions and reflect our company's current expectations.
As a result, forward-looking statements are subject to a number of
risks and uncertainties that could cause actual results or events
to differ materially from current expectations. There is no
assurance that the events described in any forward-looking
statement will materialize. You are cautioned not to place undue
reliance on forward-looking statements which reflect expectations
only as of the date of this news release. Except as may be required
by applicable law, Thomson Reuters disclaims any obligation to
update or revise any forward-looking statements.
CONTACTS |
|
MEDIA |
INVESTORS |
|
|
David Crundwell |
Frank J. Golden |
Senior Vice President, Corporate Affairs |
Senior Vice President, Investor Relations |
+1 646 223 5285 |
+1 646 223 5288 |
david.crundwell@tr.com |
frank.golden@tr.com |
SOURCE Thomson Reuters