TORONTO – Rogers Communications Inc. has agreed to purchase for cancellation 1.8 million its outstanding Class B non-voting shares for $49,381,920 pursuant to a private agreement between it and an arm’s-length third party seller.
The shares represent approximately 0.36% of the Class B shares outstanding at August 31, 2009. The private purchase was made under an issuer bid exemption order issued by the Ontario Securities Commission.
The Class B shares purchased under the private purchase will be included in calculating the number of Class B shares that Rogers may purchase through its outstanding normal course issuer bid.
All of the 22,029,900 Class B shares purchased in the twelve months preceding this purchase were repurchased in 2009, according to the press release.
