TORONTO, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Celestica Inc.(NYSE: CLS)(TSX: CLS), a leader in design,
manufacturing and supply chain solutions for the world's most innovative companies, today announced the Toronto Stock Exchange (the
TSX) has accepted the Company's notice to launch its previously announced Normal Course Issuer Bid (the Bid).
Under the Bid, the Company may repurchase on the open market (or as otherwise permitted), at its discretion
during the period commencing on December 18, 2018 and ending on the earlier of December 17, 2019 and the completion of purchases
under the Bid, up to 9,490,802 subordinate voting shares, representing approximately 10% of the "public float" of the subordinate
voting shares (within the meaning of the rules of the TSX), subject to the normal terms and limitations of such bids. Under the TSX
rules, the average daily trading volume of the subordinate voting shares on the TSX during the six months ended November 30, 2018
was 382,523 and, accordingly, daily purchases on the TSX pursuant to the Bid will be limited to 95,630 subordinate voting shares,
other than purchases made pursuant to the block purchase exception. The actual number of subordinate voting shares which may be
purchased pursuant to the Bid and the timing of any such purchases will be determined by the management of the Company, subject to
applicable law and the rules of the TSX. In accordance with the TSX rules, the maximum number of subordinate voting shares which
may be repurchased for cancellation under the Bid will be reduced by the number of subordinate voting shares purchased for delivery
pursuant to stock-based compensation plans.
Purchases are expected to be made through the facilities of the New York Stock Exchange and the Toronto Stock
Exchange, or such other permitted means (including through alternative trading systems in Canada), at prevailing market prices or
as otherwise permitted. The Bid will be funded using existing cash resources and draws on its credit facility, and any subordinate
voting shares repurchased by the Company under the Bid will be cancelled.
As of December 1, 2018, the Company had 117,483,631 issued and outstanding subordinate voting shares and a
"public float" (within the meaning of the rules of the TSX) of 94,908,026 subordinate voting shares.
The Company believes that the purchases are in the best interest of the Company and constitute a desirable use
of its funds.
The Company previously implemented a normal course issuer bid for its subordinate voting shares which expired on
November 12, 2018. Under its prior bid, the Company was authorized to purchase up to 10,459,516 subordinate voting shares and
repurchased and cancelled 8,696,065 subordinate voting shares at a weighted average price of US$11.00 per share. In the past 12
months, the Company repurchased 1,133,000 subordinate voting shares for delivery pursuant to the Company's stock-based compensation
plans.
About Celestica
Celestica enables the world’s best brands. Through our recognized customer-centric approach, we partner with
leading companies in aerospace and defense, communications, enterprise, healthtech, industrial, capital equipment, and smart energy
to deliver solutions for their most complex challenges. As a leader in design, manufacturing, hardware platform and supply chain
solutions, Celestica brings global expertise and insight at every stage of product development - from the drawing board to
full-scale production and after-market services. With talented teams across North America, Europe and Asia, we imagine, develop and
deliver a better future with our customers.
For more information, visit www.celestica.com.
Our securities filings can also be accessed at www.sedar.com and www.sec.gov.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the U.S.
Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and forward-looking
information within the meaning of Canadian securities laws, including, without limitation, statements related to: the Company's
intention to commence the Bid and the timing and quantity of any purchases of subordinate voting shares under the Bid. For those
statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities
Litigation Reform Act of 1995, and for forward-looking information under applicable Canadian securities laws.
Forward-looking statements are provided to assist readers in understanding management’s current expectations
and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to
differ materially from those expressed or implied in such forward-looking statements, including, among others, the risks discussed
in our public filings at www.sedar.com and www.sec.gov, including in our 2017 Annual Report on Form 20-F (see, among
other risk disclosures, Item 3(D), “Key Information — Risk Factors” and Item 11, “Quantitative and Qualitative Disclosures
about Market Risk”) and our most recent Management's Discussion and Analysis filed with, and subsequent reports on Form 6-K
furnished to, the U.S. Securities and Exchange Commission, and as applicable, the Canadian Securities Administrators, as well as
risks related to: the Company's future capital requirements; market and general economic conditions; demand for the Company's
customers' products; and unforeseen legal or regulatory developments.
Our forward-looking statements contained in this presentation are based on various assumptions, many of
which involve factors that are beyond our control. Our material assumptions include those discussed in our public filings at
www.sedar.com and www.sec.gov, under the heading “Forward-Looking Statements”, or similarly named sections, among other
assumption disclosures, including in our 2017 Annual Report on Form 20-F and our most recent Management's Discussion and Analysis
filed with, and subsequent reports on Form 6-K furnished to, the U.S. Securities and Exchange Commission, and as applicable, the
Canadian Securities Administrators, as well as related to the following: the Company's view with respect to its financial condition
and prospects; the stability of general economic and market conditions; currency exchange rates and interest rates; the
availability of cash for repurchases of outstanding subordinate voting shares under the Bid; the existence of alternative uses for
the Company's cash resources which may be superior to effecting repurchases under the Bid; compliance by third parties with their
contractual obligations; and compliance with applicable laws and regulations pertaining to the Bid. While management believes these
assumptions to be reasonable under the current circumstances, they may prove to be inaccurate. Forward-looking statements speak
only as of the date on which they are made, and we disclaim any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or otherwise, except as required by applicable law
All forward-looking statements attributable to us are expressly qualified by these cautionary
statements.
Contacts: Celestica Communications (416) 448-2200 media@celestica.com Celestica Investor Relations (416) 448-2211 clsir@celestica.com