MONTREAL, July 30, 2018 (GLOBE NEWSWIRE) -- Cogeco Inc. (TSX: CGO) (the "Corporation" or
"Cogeco") announces that the Toronto Stock Exchange (the "TSX") has accepted its notice of
intention for a normal course issuer bid in respect of its Subordinate Voting Shares (the "Subordinate
Shares"). Purchases pursuant to the notice will not commence prior to August 2, 2018, the date following the date
upon which the Corporation’s current normal course issuer bid is set to expire, and will not continue beyond August 1, 2019.
The notice will enable Cogeco to acquire up to 550,000 Subordinate Shares for cancellation representing
approximately 3.8% percent of the 14,643,321 shares of such class which were issued and outstanding as at July 19, 2018.
All purchases will be conducted through the facilities of the TSX or Canadian alternative trading systems, if
eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market
transactions.
Under TSX rules, the Corporation will be allowed to purchase daily, through the facilities of the TSX, a maximum
of 4,034 Subordinate Shares representing 25% of the average daily trading volume, as calculated per the TSX rules. In addition, the
Corporation may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of Subordinate Shares not
directly or indirectly owned by insiders of the Corporation, in accordance with TSX rules. The Subordinate Shares purchased
pursuant to the normal course issuer bid will be cancelled.
The price to be paid by the Corporation for any Subordinate Share will be the market price at the time of
acquisition, plus brokerage fees where applicable.
The Corporation has entered into an automatic share purchase plan with a designated broker on the date hereof to
allow for the purchase of Subordinate Shares under the normal course issuer bid at times when the Corporation would ordinarily not
be permitted to purchase Subordinate Shares due to regulatory restrictions or self-imposed blackout periods.
Under its current normal course issuer bid that commenced on August 2, 2017 and will end on August 1, 2018,
Cogeco received the approval of the TSX to purchase for cancellation a maximum of 550,000 Subordinate Shares. During the period
from August 2, 2017 to July 19, 2018 inclusively, Cogeco purchased a total of 173,216 Subordinate Shares at a weighted average
price per Subordinate Shares of $75.71.
Cogeco currently believes that the purchase of its Subordinate Shares under the normal course issuer bid is an
appropriate and desirable use of available cash to increase shareholder value and that it provides additional investment returns to
its shareholders.
ABOUT COGECO
Cogeco Inc. is a diversified holding corporation which operates in the communications and media sectors. Through
its Cogeco Communications Inc. subsidiary, Cogeco provides its residential and business customers with Internet, video and
telephony services through its two-way broadband fibre networks. Cogeco Communications Inc. operates in Canada under the Cogeco
Connexion name in Québec and Ontario, and in the United States under the Atlantic Broadband name in 11 states along the East Coast,
from Maine to Florida. Through Cogeco Peer 1, Cogeco Communications Inc. provides its business customers with a suite of
information technology services (colocation, network connectivity, hosting, cloud and managed services), through its 16 data
centres, extensive FastFiber Network® and more than 50 points of presence in North America and Europe. Through its subsidiary
Cogeco Media, Cogeco owns and operates 13 radio stations across most of Québec with complementary radio formats serving a wide
range of audiences as well as Cogeco News, its news agency. Cogeco’s subordinate voting shares are listed on the Toronto Stock
Exchange (TSX: CGO). The subordinate voting shares of Cogeco Communications Inc. are also listed on the Toronto Stock Exchange
(TSX: CCA).
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release may constitute forward-looking information within the meaning
of securities laws. Forward-looking information may relate to Cogeco Inc.’s ("Cogeco" or the "Corporation") future outlook and
anticipated events, business, operations, financial performance, financial condition or results and, in some cases, can be
identified by terminology such as "may"; "will"; "should"; "expect"; "plan"; "anticipate"; "believe"; "intend"; "estimate";
"predict"; "potential"; "continue"; "foresee", "ensure" or other similar expressions concerning matters that are not historical
facts. Particularly, statements regarding the Corporation’s financial guidelines, future operating results and economic
performance, objectives and strategies are forward-looking statements. These statements are based on certain factors and
assumptions including expected growth, results of operations, performance and business prospects and opportunities, which Cogeco
believes are reasonable as of the current date.
Refer in particular to the "Corporate Objectives and Strategies" section of the Corporation's 2017 annual
MD&A and the "Fiscal 2018 revised financial guidelines" section of the first quarter of fiscal 2018 MD&A for a discussion
of certain key economic, market and operational assumptions we have made in preparing forward-looking statements. While Management
considers these assumptions to be reasonable based on information currently available to the Corporation, they may prove to be
incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause
actual results to differ materially from what Cogeco currently expects. These factors include risks such as competitive risks,
business risks, regulatory risks, technology risks, financial risks, economic conditions, ownership risks, human-caused and natural
threats to our network, infrastructure and systems and litigation risks, many of which are beyond the Corporation’s control. For
more exhaustive information on these risks and uncertainties, the reader should refer to the "Uncertainties and Main Risk Factors"
section of the Corporation's 2017 annual Management’s Discussion and Analysis ("MD&A") and of the third quarter of fiscal 2018
MD&A. These factors are not intended to represent a complete list of the factors that could affect Cogeco and future events and
results may vary significantly from what Management currently foresees. The reader should not place undue importance on
forward-looking information contained in this news release which represent Cogeco's expectations as of the date of this news
release (or as of the date they are otherwise stated to be made) and are subject to change after such date. While Management may
elect to do so, the Corporation is under no obligation (and expressly disclaims any such obligation) and does not undertake to
update or alter this information at any particular time, whether as a result of new information, future events or otherwise, except
as required by law. All amounts are stated in Canadian dollars unless otherwise indicated.
SOURCE:
Cogeco Inc.
Andrée Pinard
Vice President and Treasurer
Tel.: 514-764-4700
INFORMATION:
Media
René Guimond
Senior Vice President, Public Affairs and Communications
Tel.: 514-764-4700