BRP Announces Completion of Substantial Issuer Bid
BRP Inc. - Common Subordinate Voting Shares (DOOO)
Company Research
Source: GlobeNewswire
VALCOURT, Quebec, July 23, 2019 (GLOBE NEWSWIRE) -- BRP Inc. (TSX:DOO; NASDAQ:DOOO) today announced that it has taken up and paid for 6,342,494 subordinate voting shares ("Shares") at a price of $47.30 per Share under BRP's substantial issuer bid ("SIB") to purchase for cancellation a number of its Shares for an aggregate purchase price not to exceed $300 million. All dollar amounts are in Canadian dollars. The Shares purchased represent an aggregate purchase price of approximately $300 million and represented 6.6% of the total number of BRP's issued and outstanding Shares and multiple voting shares as of July 22, 2019. After giving effect to the SIB, BRP will have 39,289,683 Shares and 50,861,671 multiple voting shares issued and outstanding. A total of 3,102,768 Shares were taken up and purchased pursuant to auction tenders at or below the purchase price and purchase price tenders. Since the SIB was oversubscribed, shareholders who made auction tenders at or below the purchase p
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- DOOO's page on the SEC website