TORONTO, July 14, 2016 (GLOBE NEWSWIRE) -- Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) (“Colliers”)
announced today that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by Colliers of its intention to make a
normal course issuer bid (the “NCIB”) with respect to its outstanding subordinate voting shares (the “Subordinate Voting Shares”).
The notice provides that Colliers may, during the 12 month period commencing July 18, 2016 and ending no later than
July 17, 2017, purchase through the facilities of the TSX, alternative Canadian Trading Systems or The NASDAQ Stock Market
(“Nasdaq”) up to 3,200,000 Subordinate Voting Shares in total, being approximately 10% of the “public float” as of July 1, 2016 of
such class of shares. Purchases of Subordinate Voting Shares through Nasdaq will be made in the normal course and will not, during
the 12 month period ending July 17, 2017 exceed, in the aggregate, 5% of the outstanding Subordinate Voting Shares as at the
commencement of the NCIB. The price which Colliers will pay for any such shares will be the market price at the time of
acquisition. During the period of this NCIB, Colliers may make purchases under the NCIB by means of open market transactions or
otherwise as permitted by the TSX and/or Nasdaq. The actual number of Subordinate Voting Shares which may be purchased pursuant to
the NCIB and the timing of any such purchases will be determined by senior management of Colliers. The average daily trading volume
on the TSX from January 1 to June 30, 2016 was 60,021 Subordinate Voting Shares. Daily purchases under the NCIB will be limited to
15,005 Subordinate Voting Shares, other than block purchases. All shares purchased by Colliers under the NCIB will be
cancelled.
As of July 1, 2016, there were 37,271,067 Subordinate Voting Shares and 1,325,694 multiple voting shares of
Colliers outstanding.
Colliers may purchase its Subordinate Voting Shares, from time to time, if it believes that the market price of its
Subordinate Voting Shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best
interests of Colliers.
Colliers’ previous NCIB expires on July 16, 2016. As of July 1, 2016, Colliers has not purchased any of its
Subordinate Voting Shares under this NCIB.
About Colliers International Group Inc.
Colliers International Group Inc. (NASDAQ:CIGI) (TSX:CIG) is an industry leading global real estate services company with more than
16,000 skilled professionals operating in 66 countries. With an enterprising culture and significant employee ownership, Colliers
professionals provide a full range of services to real estate occupiers, owners and investors worldwide. Services include strategic
advice and execution for property sales, leasing and finance; global corporate solutions; property, facility and project
management; workplace solutions; appraisal, valuation and tax consulting; customized research; and thought leadership
consulting.
Colliers professionals think differently, share great ideas and offer thoughtful and innovative advice that help
clients accelerate their success. Colliers has been ranked among the top 100 outsourcing firms by the International Association of
Outsourcing Professionals’ Global Outsourcing for 11 consecutive years, more than any other real estate services firm.
For the latest news from Colliers, visit Colliers.com or follow us on Twitter: @Colliers and LinkedIn.
Forward-Looking Statements
Certain information included in this news release is forward-looking, within the meaning of applicable securities laws. Much of
this information can be identified by words such as “believe”, “expects”, “expected”, “will”, “intends”, “projects”, “anticipates”,
“estimates”, “continues” or similar expressions suggesting future outcomes or events. Colliers believes the expectations reflected
in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct
and such forward-looking statements should not be unduly relied upon.
Forward-looking statements are based on current information and expectations that involve a number of risks and
uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are
not limited to, risks associated with: (i) general economic and business conditions, which will, among other things, impact demand
for Colliers’ services and the cost of providing services; (ii) the ability of Colliers to implement its business strategy,
including Colliers’ ability to identify and acquire suitable acquisition candidates on acceptable terms and successfully integrate
newly acquired businesses with its existing businesses; (iii) changes in or the failure to comply with government regulations; and
(iv) such factors as are identified in the Annual Information Form of Colliers for the year ended December 31, 2015 under the
heading “Risk Factors” (which factors are adopted herein and a copy of which can be obtained at www.sedar.com). Forward looking statements contained in this news release are made as of the
date hereof and are subject to change. All forward-looking statements in this news release are qualified by these cautionary
statements. Except as required by applicable law, Colliers undertakes no obligation to publicly update or revise any
forward-looking statement, whether as a result of new information, future events or otherwise.
COMPANY CONTACTS: Jay S. Hennick Chairman and CEO (416) 960-9500 John B. Friedrichsen CFO (416) 960-9500
