TORONTO, Oct. 4, 2024
/CNW/ - (TSX: WN) – George Weston Limited ("Weston") announced
today that it has entered into an automatic share purchase plan
("ASPP") with a broker in order to facilitate repurchases of
Weston's common shares ("Common
Shares") under its previously announced normal course issuer bid
("NCIB").
Weston previously announced
that it had received approval from the Toronto Stock Exchange
("TSX") to, during the 12-month period commencing May 27, 2024 and terminating May 26, 2025 purchase up to 6,646,057 Common
Shares, representing approximately 5% of the
132,921,158 Common Shares issued and outstanding as of
May 13, 2024, by way of a NCIB on the
TSX or through alternative trading systems or by such other means
as may be permitted under applicable law.
During the effective period of Weston's ASPP, Weston's broker may purchase Common Shares at
times when Weston would not be
active in the market due to insider trading rules and its own
internal trading blackout periods. Purchases will be made by
Weston's broker based upon
parameters set by Weston when it
is not in possession of any material non-public information about
itself and its securities, and in accordance with the terms of the
ASPP. Outside of the effective period of the ASPP, Common Shares
may continue to be purchased in accordance with Weston's discretion, subject to applicable
law. The ASPP has been entered into in accordance with the
requirements of applicable Canadian securities laws.
About George Weston Limited
George Weston Limited is a Canadian public company founded in
1882. The Company operates through its two reportable operating
segments, Loblaw Companies Limited and Choice Properties Real
Estate Investment Trust. Loblaw provides Canadians with grocery,
pharmacy, health and beauty, apparel, general merchandise,
financial services and wireless mobile products and services.
Choice Properties owns, manages and develops a high-quality
portfolio of commercial and residential properties across
Canada.
SOURCE George Weston Limited