Thomson Reuters Intends to Purchase up
to 6 Million Shares Through Private Agreements
Purchases will be part of previously
announced buyback program
TORONTO, March 1, 2017 -- Thomson Reuters (NYSE / TSX:
TRI) today announced that it intends to purchase up to 6 million of
its common shares through private agreements with two arm?s-length
third-party sellers. 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 37.5 million common
shares between May 30, 2016 and
May 29, 2017. The Ontario Securities
Commission (OSC) has issued issuer bid exemption orders 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 earlier this month to purchase up to an additional
US$1 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 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 http://www.sedar.com/ following the
completion of any such purchase.
To date, Thomson Reuters has purchased 6.5 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 12,500,000, 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
David Crundwell
Senior Vice President, Corporate Affairs
+1 646 223 5285
david.crundwell@tr.com |
INVESTORS
Frank J. Golden
Senior Vice President, Investor Relations
+1 646 223 5288
frank.golden@tr.com |
SOURCE Thomson Reuters