Normal course issuer bid
Effective February 23, 2016, Great-West Lifeco amended its normal course issuer bid (NCIB), for the period of January 8, 2016, to January 7, 2017.
Under the amended NCIB, the Corporation may purchase up to 20,000,000 of its common shares (“Common Shares”), representing approximately 2 per cent of the 993,350,331 issued and outstanding Common Shares on December 21, 2015. Other than block purchase exemptions, daily purchases will be limited to 139,185 Common Shares, being 25 per cent of the average daily trading volume of the Common Shares for the six-month period ending December 31, 2015. Any Common Shares purchased by the Corporation under the amended NCIB will be cancelled.
The Corporation utilizes its NCIB to acquire Common Shares in order to mitigate the dilutive effect of issuing securities under the Corporation’s Stock Option Plan, and for other capital management purposes.
You may access the news release announcing the amended NCIB on our website and on SEDAR. Shareholders may obtain a copy of the Notice of Intention to make a normal course issuer bid, at no charge, by contacting the Corporate Secretary’s office.