TORONTO, March 22,
2024 /CNW/ - (TSX: WN) – George Weston Limited
("Weston") announced today that it has entered into an automatic
share purchase plan ("ASPP") with a broker in order to facilitate
repurchases of Weston's common
shares ("Common Shares") under its previously announced normal
course issuer bid ("NCIB").
Weston previously announced
that it had received approval from the Toronto Stock Exchange
("TSX") to, during the 12-month period commencing May 25, 2023 and terminating May 24, 2024, purchase up to 6,954,013 Common
Shares, representing approximately 5% of the 139,080,273 Common
Shares issued and outstanding as of May 11,
2023, by way of a NCIB on the TSX or through alternative
trading systems or by such other means as may be permitted under
applicable law.
During the effective period of Weston's ASPP, Weston's broker may purchase Common Shares at
times when Weston would not be
active in the market due to insider trading rules and its own
internal trading blackout periods. Purchases will be made by
Weston's broker based upon
parameters set by Weston when it
is not in possession of any material non-public information about
itself and its securities, and in accordance with the terms of the
ASPP. Outside of the effective period of the ASPP, Common Shares
may continue to be purchased in accordance with Weston's discretion, subject to applicable
law. The ASPP has been entered into in accordance with the
requirements of applicable Canadian securities laws.
About George Weston
Limited
George Weston Limited is a Canadian public company founded in
1882. The Company operates through its two reportable operating
segments, Loblaw Companies Limited and Choice Properties Real
Estate Investment Trust. Loblaw provides Canadians with grocery,
pharmacy, health and beauty, apparel, general merchandise,
financial services and wireless mobile products and services.
Choice Properties owns, manages and develops a high-quality
portfolio of commercial and residential properties across
Canada.
SOURCE George Weston Limited
