IGM FINANCIAL INC. ANNOUNCES ITS INTENTION TO BUY UP TO 6 MILLION OF ITS COMMON SHARES
WINNIPEG, February 10, 2022 – IGM Financial Inc. (IGM) (TSX: IGM) today announced its intention, subject to Toronto Stock Exchange (TSX) approval, to repurchase for cancellation up to $6 million common shares under a normal course issuer bid to mitigate the dilutive effect of granting options under the Company’s Stock Option Plan shares of the Company and for other purposes related to the management of the company’s capital.
IGM will file a notice of intention to make a normal course issuer bid with the TSX and such offer will commence upon acceptance of such notice by the TSX and will continue for a maximum of one year. Redemptions will be effected by open market transactions through the facilities of the TSX or any other trading system, or by any other means permitted by a securities regulatory authority, including under a plan automatic purchase of securities. Redemptions will be made at the price in effect at the time of acquisition. Common shares redeemable represent approximately 2.5 percent of the 239,723,688 common shares outstanding as of January 31, 2022.
The Company’s previous normal course issuer bid expired on March 25, 2020; therefore, the Company has not redeemed any shares in the past 12 months.
About IGM Financial Inc.
IGM Financial Inc. is one of Canada’s leading asset and wealth management companies, with total assets under management and assets under advisory services of approximately $271 billion as of January 31, 2022. The Company provides a wide range of financial planning and investment management services to help more than two million Canadians achieve their financial goals. The Company primarily operates through IG Wealth Management, Mackenzie Investments and Investment Planning Counsel. IGM Financial is part of the Power Corporation of Canada group of companies.
Forward-looking statements
Certain statements in this release, other than statements of historical fact, are forward-looking; they are based on assumptions and reflect IGM Financial’s current expectations. Forward-looking statements are provided to help the reader understand the financial condition and results of operations of IGM Financial as of certain dates and for the periods then ended and to present information about current expectations and plans. of management. These statements may not be suitable for other purposes. Such statements may include, but are not limited to, IGM’s intention to purchase Common Shares pursuant to a normal course issuer bid, the filing of a notice of intention relating to a normal course issuer bid and the maximum number of shares that may be purchased pursuant to a normal course issuer bid. Forward-looking statements include statements that are predictive in nature, depend on or relate to future conditions or events, include words such as “expect”, “anticipate”, “plan”, “believe”, “estimate “, “seek”, “intend”, “aim”, “project” and “plan”, as well as the negative forms of these terms and other similar expressions, or are characterized by the use of the future or conditional form of verbs such as “to be”, “to have” and “to be able”.
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Statements are based on significant factors or assumptions that led to the conclusion or making the forecast or projection. These factors and assumptions include perceptions of historical trends, current conditions and expected future developments as well as other factors considered appropriate in the circumstances. Although IGM Financial considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.
Forward-looking statements are subject to inherent risks and uncertainties, both general and specific, which may cause predictions, forecasts, projections, expectations and conclusions to prove inaccurate, assumptions to be incorrect and that objectives or strategic objectives and priorities may not be achieved.
Various significant factors, many of which are beyond the control of IGM Financial and its subsidiaries, affect the operations, performance and results of IGM Financial and its subsidiaries and their businesses. Due to these factors, actual results may differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to, the impact or unintended consequences of economic, political and market conditions in North America and around the world, interest rates and foreign exchange rates, stock and financial markets markets, management of market liquidity and funding risks and changes in accounting policies relating to financial reporting (including uncertainties associated with critical accounting assumptions and estimates), the impact of application of future accounting changes, operational and reputational risks, competition, changes in technology, government regulations, legislation and tax laws, unexpected court or regulatory rulings, disasters , the ability of IGM Financial to carry out strategic transactions,
- integrate acquired businesses and implement other growth strategies and IGM Financial’s success in anticipating or managing the above factors.
Readers should note that the foregoing list does not include all of the factors that could affect IGM Financial’s forward-looking statements. Readers are also cautioned to carefully consider these and other factors, uncertainties and potential events and not to place undue reliance on any forward-looking statements.
- Unless applicable law in Canada expressly requires it, IGM Financial undertakes no obligation to update forward-looking statements to reflect events or circumstances that occur after the date on which such statements were made or further unforeseen events, in light of new information, future events or results or otherwise.
For more information about the risks and uncertainties associated with IGM Financial’s business and the significant factors and assumptions on which the information contained in the forward-looking statements is based, see IGM Financial’s disclosure documents. These documents have been filed with Canadian securities regulators and are available at www.sedar.com.
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Disclaimer
IGM Financial Inc. published this content on February 10, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 10, 2022 23:57:01 UTC.
Publicnow 2022
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Trends technical analysis IGM FINANCIAL INC.
| Short term | Middle term | Long term | |
| Trends | Neutral | Bearish | Neutral |
Evolution of the Income Statement
Sale  Purchase | |
| Average recommendation | ACCUMULATE |
| Number of Analysts | 9 |
| Last Closing Price | $45.52 |
| Average price target | $55.00 |
| Deviation / Average Target | 20.8% |
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