TORONTO, Aug. 11, 2016 /CNW/ - Canaccord Genuity Group Inc. (the
"Company") (TSX: CF) wishes to announce the filing of a normal course issuer bid (NCIB) to purchase common shares of the Company
through the facilities of the TSX and on alternative trading systems in accordance with the requirements of the TSX. The Company
has filed a notice for a normal course issuer bid to provide the choice of purchasing up to a maximum of 5,587,378 of its common
shares through the facilities of the TSX or alternative trading systems. The purpose of the purchase of common shares under the
normal course issuer bid is to enable the Company to acquire shares for cancellation, and any shares acquired will be cancelled.
The shares that may be repurchased represent 5.0% of the Company's outstanding common shares. As of July 31,
2016, there were 111,747,563 common shares of the Company issued and outstanding. The Company purchased 482,367 common
shares at a weighted average per share of $5.3523 under the normal course issuer bid which commenced
on August 13, 2015.
The Company has also entered into a pre-defined plan with a designated broker to allow for the repurchase of its common shares
under this normal course issuer bid. The Company's broker may repurchase the common shares under the plan on any trading during the
normal course issuer bid, including during the Company's internal trading blackout periods. The plan has been reviewed by the
Toronto Stock Exchange and will terminate on the earlier of the termination of the plan by the Company in accordance with its terms
and the expiry of the bid.
Purchases under the normal course issuer bid are expected to be able to commence on August 15,
2016, and will continue for one year (to August 14, 2017). The maximum consideration will be
the market price of the securities at the time of acquisition. Subject to the once per calendar week block purchase exemption, the
daily purchases are limited to 90,132 common shares of the Company (which is 25% of the average daily trading volume of common
shares of the Company on the TSX (ADTV) in the six calendar months from February 2016 to July 2016 (25% of the ADTV of 360,529)).
ABOUT CANACCORD GENUITY GROUP INC.:
Through its principal subsidiaries, the Company is a leading independent, full-service financial services firm, with operations
in two principal segments of the securities industry: wealth management and capital markets. Since its establishment in 1950,
the Company has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating
value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and
investment banking services. The Company has offices in 10 countries worldwide, including Wealth Management offices located
in Canada, the UK, Guernsey, Jersey, the Isle of Man and Australia. Canaccord Genuity, the
international capital markets division, operates in Canada, the US, the UK, France, Ireland, Hong Kong, China,
Australia and Dubai. To us there are no foreign markets.™
Canaccord Genuity Group Inc. is publicly traded under the symbol CF on the TSX.
SOURCE Canaccord Genuity Group Inc.
Image with caption: "Canaccord Genuity Group Inc. (CNW Group/Canaccord Genuity Group Inc.)". Image available at: http://photos.newswire.ca/images/download/20160811_C7914_PHOTO_EN_751368.jpg
