renewal of Normal Course Issuer Bid for Preferred Shares This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Concerning Forward-Looking Statements" later in this news release.
MONTRAL, Nov. 4, 2021 /CNW Telbec/ - BCE Inc. (BCE) today announced that the Toronto Stock Exchange (the "TSX") has accepted a notice filed by BCE of its intention to renew its normal course issuer bid ("NCIB") to purchase up to 10% of the public float of each series of BCE's outstanding First Preferred Shares that are listed on the TSX (the "Preferred Shares"). The period of the NCIB will extend from November 9, 2021 to November 8, 2022, or an earlier date should BCE complete its purchases under the NCIB. BCE will pay the prevailing market price at the time of acquisition for any Preferred Shares purchased plus brokerage fees payable by BCE, and all Preferred Shares acquired by BCE under the NCIB will be cancelled.
The actual number of Preferred Shares repurchased under the NCIB and the timing of such repurchases will be at BCE's discretion and shall be subject to the limitations set out in the TSX Company Manual.
The NCIB will be conducted through the facilities of the TSX as well as alternative trading systems in Canada, if eligible, or by such other means as may be permitted by securities regulatory authorities, including pre-arranged crosses, exempt offers, private agreements under an issuer bid exemption order issued by securities regulatory authorities and block purchases of Preferred Shares. Purchases made under an issuer bid exemption order will be at a discount to the prevailing market price.