(All amounts in Canadian dollars)
The Company has obtained regulatory approval from the
"The new share repurchase program is comprised of the remaining portion of our previously announced target of repurchasing
Subject to the negotiation and execution of a broker agreement, the Company's common shares will be purchased under the bid through a combination of a 10b5-1 automatic trading plan as well as at management's discretion in compliance with regulatory requirements, and given market, cost and other considerations.
Repurchases will be made through the facilities of the TSX (and/or other Canadian marketplaces), the
There can be no assurance as to the precise number of shares that will be repurchased under the bid, or the aggregate dollar amount of the shares purchased.
The maximum number of shares that may be purchased during any trading day may not exceed 25% of the average daily trading volume on the TSX, based on the previous six completed calendar months, for a daily total of 83,032 common shares. This limit, for which there are permitted exceptions, is determined in accordance with regulatory requirements. On
Safe Harbor Statement
Certain information in this news release, particularly information regarding future economic performance, finances, and plans, expectations and objectives of management, and other information, constitutes forward-looking information within the meaning of Canadian securities laws and forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. We refer to all of these as forward-looking statements. Various factors including competition in the quick service segment of the food service industry, general economic conditions and others described as "risk factors" in the Company's 2012 Annual Report on Form 10-K filed
Forward-looking statements are based on a number of assumptions which may prove to be incorrect, including, but not limited to, assumptions about: the absence of an adverse event or condition that damages our strong brand position and reputation; the absence of a material increase in competition or in volume or type of competitive activity within the quick service restaurant segment of the food service industry; our ability to obtain financing on favourable terms; our ability to maintain investment grade credit ratings; prospects and execution risks concerning our U.S. market strategy; general worldwide economic conditions; cost and availability of commodities; the ability to retain our senior management team or the inability to attract and retain qualified personnel; continuing positive working relationships with the majority of the Company's restaurant owners; the absence of any material adverse effects arising as a result of litigation; and there being no significant change in the Company's ability to comply with current or future regulatory requirements.
We are presenting this information for the purpose of informing you of management's current expectations regarding these matters, and this information may not be appropriate for any other purpose. We assume no obligation to update or alter any forward-looking statements after they are made, whether as a result of new information, future events, or otherwise, except as required by applicable law. Please review the Company's Safe Harbor Statement at www.timhortons.com/en/about/safeharbor.html.
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