113  0 Kommentare Gildan Activewear Announces Increase of Normal Course Issuer Bid - Seite 2

    Other than to reflect the increase in the maximum number of common shares that may be repurchased under the NCIB, the automatic securities purchase plan (ASPP) entered into with a designated broker in relation to the NCIB on August 9, 2023 also remains unchanged. The ASPP allows for the purchase of common shares under the NCIB, subject to certain trading parameters, at times when Gildan ordinarily would not be permitted to purchase its common shares due to applicable regulatory restrictions or self-imposed trading black-out periods. Outside of the predetermined black-out periods, common shares may be purchased under the NCIB based on the discretion of the Company’s management, in compliance with TSX rules and applicable securities laws.

    During the period from August 9, 2023 to May 29, 2024, Gildan purchased and cancelled a total of 8,611,018 common shares, representing 4.9% of its issued and outstanding common shares and 5.0% of the public float as at July 31, 2023, for a total cost of US$272.5 million. All shares purchased pursuant to the NCIB have been canceled.

    Gildan’s management and the Board of Directors believe the repurchase of common shares represents an appropriate use of Gildan’s financial resources and that share repurchases under the NCIB will not preclude Gildan from continuing to pursue organic growth and complementary acquisitions.

    Caution Concerning Forward-Looking Statements
    Certain statements included in this press release constitute “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 and Canadian securities legislation and regulations and are subject to important risks, uncertainties, and assumptions. This forward-looking information includes, amongst others, statements relating to potential future purchases by Gildan of its common shares pursuant to the NCIB and ASPP. Forward-looking statements generally can be identified by the use of conditional or forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “project,” “assume,” “anticipate,” “plan,” “foresee,” “believe,” or “continue,” or the negatives of these terms or variations of them or similar terminology. We refer you to the Company’s filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, as well as the risks described under the “Financial risk management”, “Critical accounting estimates and judgments,” and “Risks and uncertainties” sections of the Company’s most recent Management’s Discussion and Analysis for the year ended December 31, 2023 (“FY2023 MD&A”) for a discussion of the various factors that may affect these forward-looking statements. Material factors and assumptions that were applied in drawing a conclusion or making a forecast or projection are also set out throughout such document.

    Seite 2 von 4

    0 Follower
    Autor folgen

    Verfasst von globenewswire
    Gildan Activewear Announces Increase of Normal Course Issuer Bid - Seite 2 MONTREAL, May 29, 2024 (GLOBE NEWSWIRE) - Gildan Activewear Inc. (GIL: TSX and NYSE) is committed to returning capital to shareholders via share buybacks and dividends as a key element of its capital allocation program. As previously indicated, …