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     123  0 Kommentare Stantec announces renewal of Normal Course Issuer Bid and Automatic Share Purchase Plan

    EDMONTON, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) -- TSX, NYSE: STN

    Stantec Inc. (“Stantec”) announced today that it has received approval from the Toronto Stock Exchange (the “TSX”) respecting the renewal of its Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB documentation filed with the TSX, Stantec may purchase up to 5,605,224 common shares, representing approximately 5% of Stantec’s 112,104,491 issued and outstanding common shares as of November 2, 2020. The purchases may commence on November 16, 2020 and will terminate no later than November 15, 2021. Except for block purchases permitted under the rules and policies of the TSX, the number of shares to be purchased per day will not exceed 56,146 or approximately 25% of the average daily trading volume for the six full calendar months ending October 31, 2020, which is 224,586 shares. Stantec will make the purchases on the open market through the facilities of the TSX or any alternative Canadian trading system, and the prices that Stantec will pay for any common shares will be the market price of such shares at the time of acquisition. All shares purchased by Stantec will be cancelled.

    The renewal of the NCIB follows on the conclusion of Stantec’s previous NCIB that expires November 13, 2020. From November 14, 2019 to November 6, 2020, Stantec purchased 1,151,244 common shares at a weighted average price of $36.82 per share.

    Stantec also announced today that, in connection with its intention to implement the NCIB, Stantec has renewed its automatic share purchase plan (the “ASPP”) with a designated broker to allow for the purchase of its common shares under the NCIB, once effective, at times when Stantec normally would not be active in the market due to applicable regulatory restrictions or internal trading black-out periods. Before the commencement of any particular internal trading black-out period, Stantec may, but is not required to, instruct its designated broker to make purchases of Stantec’s common shares under the NCIB during the ensuing black-out period in accordance with the terms of the ASPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by Stantec prior to commencement of the applicable black-out period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these black-out periods, common shares will be purchasable by Stantec at its discretion under its NCIB, once effective.

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    Stantec announces renewal of Normal Course Issuer Bid and Automatic Share Purchase Plan EDMONTON, Alberta, Nov. 09, 2020 (GLOBE NEWSWIRE) - TSX, NYSE: STN Stantec Inc. (“Stantec”) announced today that it has received approval from the Toronto Stock Exchange (the “TSX”) respecting the renewal of its Normal Course Issuer Bid …

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