MONTREAL,
Sept. 15, 2021 /PRNewswire/ -
Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) ("Alithya" or
the "Company"), a leader in strategy and digital
transformation employing more than 3,300 highly qualified
professionals and offering enterprise cloud solutions across
Canada, the U.S. and Europe, is pleased to announce today that the
Toronto Stock Exchange (the "TSX") has accepted a notice filed by
Alithya of its intention to commence a normal course issuer bid
("NCIB").
Under the NCIB, the Company will be allowed to purchase
for cancellation on the open market through the facilities of the
TSX and NASDAQ, or through alternative trading systems, if
eligible, or outside the facilities of the TSX pursuant to
exemption orders issued by securities regulatory authorities, up
to 5,462,572 Class A subordinate voting
shares ("Class A Shares"), representing 10% of the Company's public
float as of the close of markets on September 8, 2021. The amount of
purchases on any given day will not exceed 22,259 Class A Shares,
which represents 25% of the average daily trading volume on the TSX
for the six-month ended August 31,
2021, being 89,038 Class A Shares,
calculated in accordance with the rules of the TSX. All Class A
Shares purchased under the NCIB will be cancelled.
Purchases under the NCIB may commence on September
20, 2021 and will end on the earlier of
September 19, 2022 and the date on
which the Company will have acquired the maximum number of Class A
Shares allowable under the NCIB or otherwise decided not to make
any further purchases. All purchases of Class A Shares will be made
by means of open market transactions at their market price at the
time of acquisition, plus brokerage fees, except for purchases that
could be effected pursuant to exemption orders issued by securities
regulatory authorities, which would be at a discount to the
prevailing market price as per the terms of the order.
The decisions regarding the timing and size of purchases
under the NCIB are subject to
management's discretion and are based on a variety of factors,
including market conditions. The Company believes that the purchase
of Class A Shares from time to time can be undertaken at prices
that do not fully reflect their value. The Company believes that,
in such circumstances, the repurchase of such Class A Shares
represents an appropriate use of the Company's available funds to
support shareholder value.
The Company entered into an automatic share purchase plan
("ASPP") with a designated broker in connection with its NCIB. The
ASPP will allow for the purchase for cancellation of Class A
Shares, subject to certain trading parameters, by its designated
broker during times when Alithya would ordinarily not be active in
the market due to applicable regulatory restrictions or
self-imposed blackout periods. Outside of these periods, the Class
A Shares will be repurchased by Alithya at its discretion under the
NCIB.
Alithya has not repurchased any Class A Shares under a
NCIB in the last twelve months.
Forward-Looking Statements
This press release contains statements that may constitute
"forward-looking information" within the meaning of applicable
Canadian securities laws and "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995 and other applicable U.S. safe harbours (collectively
"forward-looking statements"). Statements that do not exclusively
relate to historical facts, as well as statements relating to
management's expectations regarding the future growth, results of
operations, performance and business prospects of Alithya, and
other information related to Alithya's business strategy and future
plans or which refer to the characterizations of future events or
circumstances represent forward-looking statements. Such statements
often contain the words "anticipates," "expects," "intends,"
"plans," "predicts," "believes," "seeks," "estimates," "could,"
"would," "will," "may," "can," "continue," "potential," "should,"
"project," "target," and similar expressions and variations
thereof, although not all forward-looking statements contain these
identifying words.
Forward-looking statements in this press release include,
among other things, information or statements relating to potential
future purchases by Alithya of its Class A Shares pursuant to the
NCIB and the ASPP.
Forward-looking statements are presented for the sole
purpose of assisting investors and others in understanding
Alithya's objectives, strategies and business outlook as well as
its anticipated operating environment and may not be appropriate
for other purposes. Although management believes the expectations
reflected in Alithya's forward-looking statements were reasonable
as at the date they were made, forward-looking statements are based
on the opinions, assumptions and estimates of management and, as
such, are subject to a variety of risks and uncertainties and other
factors, many of which are beyond Alithya's control, and which
could cause actual events or results to differ materially from
those expressed or implied in such statements. Such risks and
uncertainties include but are not limited to those discussed in the
section titled "Risks and Uncertainties" of Alithya's annual and
interim Management's Discussion and Analysis and other materials
made public, including documents filed with Canadian and U.S.
securities regulatory authorities from time to time and which are
available on SEDAR at www.sedar.com and EDGAR at www.sec.gov.
Additional risks and uncertainties not currently known to Alithya
or that Alithya currently deems to be immaterial could also have a
material adverse effect on its financial position, financial
performance, cash flows, business or reputation.
There can be no assurance that Alithya will repurchase all
or any of the numbers of Class A Shares referred to in this press
release that are subject to the NCIB.
Forward-looking statements contained in this press release
are qualified by these cautionary statements and are made only as
of the date of this press release. Alithya expressly disclaims any
obligation to update or alter forward-looking statements, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Investors are cautioned not to place undue reliance
on forward-looking statements since actual results may vary
materially from them.
About Alithya
Alithya is a North American leader in strategy and digital
transformation. The Company employs more than 3,300 professionals
in Canada, the United States, and Europe. Alithya's integrated offer is based on
four pillars of expertise: business strategies, enterprise cloud
solutions, application services, and data and analytics. Alithya
deploys leading-edge solutions, services, and skills to develop
tools designed to meet the unique needs of customers in a variety
of sectors, including financial services, manufacturing, renewable
energy, telecommunications, transport and logistics, professional
services, healthcare and government. To learn more about Alithya,
visit www.alithya.com.
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SOURCE Alithya