Onex Files Normal Course Issuer Bid

All amounts in U.S. dollars unless otherwise stated 

TORONTO, April 15, 2024 (GLOBE NEWSWIRE) -- Onex Corporation (“Onex”) (TSX: ONEX) announced today it has filed with the Toronto Stock Exchange, and the Exchange has accepted, a Notice of Intention to make a Normal Course Issuer Bid permitting Onex to purchase for cancellation up to 10% of the public float in its Subordinate Voting Shares, or 6,318,146 shares. There are 77,048,035 Subordinate Voting Shares issued and outstanding and the public float as at April 10, 2024 was 63,181,467 shares.

Onex may buy back shares from time to time during the next twelve months. Any purchases made under the Normal Course Issuer Bid will be effected through the facilities of TSX or alternative Canadian trading systems. The number of shares Onex is permitted to purchase under the bid may be reduced by private acquisitions pursuant to issuer bid exemption orders issued by a securities regulatory authority or otherwise exempt from the issuer bid requirements of applicable securities regulations and/or by purchases of shares by certain Onex executives or employees under purchase programs administered by Onex. Any purchases made by way of private agreements under an issuer bid exemption order issued by a securities regulatory authority or other exemptions permitted by applicable securities regulations shall not be greater than the prevailing market price. Subject to any discretionary relief provided by the TSX, Onex may purchase up to 23,481 Subordinate Voting Shares during any trading day through the facilities of TSX, being 25% of its average daily trading volume of 93,925 Subordinate Voting Shares for the most recently completed six calendar months. Onex may also purchase Subordinate Voting Shares from time to time under the TSX’s block purchase exemption and other exemptions permitted by securities regulations, if available.

Onex commenced a similar Normal Course Issuer Bid on April 18, 2023 (the “2023 Bid”). The 2023 Bid, which permitted the purchase of up to 6,644,936 Subordinate Voting Shares, expires on April 17, 2024. A total of 3,835,484 shares were purchased under the 2023 Bid as at March 31, 2024 at an average purchase price of C$78.26 per share. All such purchases under the 2023 Bid occurred through the facilities of the TSX, alternative Canadian trading systems or the block purchase exemption in a private transaction pursuant to an issuer bid exemption order issued by a securities regulatory authority or other exemptions permitted by applicable securities regulations.