Bombardier Will Buy Back Shares
JANUARY 19, 2000
MONTREAL, QUEBEC--Bombardier announced that it will purchase, in
the normal course of its activities, from January 24, 2000 to
January 23, 2001, up to a maximum aggregate amount of 8,000,000 of
its Class A shares (multiple voting) and Class B shares
(subordinate voting). In this context, the Corporation intends to
purchase for cancellation up to 2,042,256 of its Class A shares
(multiple voting) and 5,957,744 Class B shares (subordinate
voting), representing approximately respectively 6.38 % of the
Class A shares (multiple voting) and 1.18 % of the Class B shares
(subordinate voting) of the Corporation, issued and outstanding
not held by insiders. The purchases will be made at market prices
through the facilities of the Toronto Stock Exchange in accordance
with the by-laws and rules of such exchange.
The Class A shares (multiple voting) and Class B shares
(subordinate voting) will be purchased as an economically
worthwhile use by the Corporation of its funds and on the basis
that such purchases may be made on financial terms which enhance
the value of the remaining Class A shares (multiple voting) and
Class B shares (subordinate voting) of the Corporation. In
addition, any purchase made pursuant to the bid may also, as a
consequence, partly offset the dilutive effect of the issuance of
the Class B shares (subordinate voting) under the Stock Option
Plan of the Corporation.
Bombardier Inc, is a Canadian corporation active in the fields of
aerospace, rail transportation equipment, recreational products
and financial services. It operates plants in 12 countries in
North America, Europe and Asia, and more than 90 % of its revenues
are generated outside Canada, Bombardier's revenues for its fiscal
year ended January 31, 1999 totaled $11.5 billion. |
