RE: RE: Today's ActionBCE to buy four million shares for cancellation
2010-03-31 17:50 ET - News Release
Ms. Julie Smithers reports
BCE ANNOUNCES THE PURCHASE THROUGH A PRIVATE AGREEMENT OF 4 MILLION COMMON SHARES UNDER ITS NORMAL COURSE ISSUER BID
BCE Inc. will purchase for cancellation four million of its common shares pursuant to a private agreement with an arm's-length third party seller. The common shares so purchased will be counted toward the 20 million common shares that BCE is entitled to repurchase for cancellation under its normal course issuer bid announced in Stockwatch on Dec. 17, 2009.
Such purchases will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission and will take place by way of several transactions to be effected pursuant to the terms of the applicable order, which provides that such purchases shall occur prior to May 31, 2010. The price that BCE will pay for the common shares purchased by it under such agreement will not exceed the prevailing market price of BCE's common shares on the Toronto Stock Exchange at the time of each purchase.