TORONTO – Rogers has agreed to purchase for cancellation 3,100,000 of its outstanding Class B non-voting shares for an aggregate purchase price of $100,270,740, which it says is at a discount to the current market price of the Class B shares.
The transaction represents approximately 0.69% of the Class B shares outstanding at November 30, 2010. Rogers already agreed to buy back an additional 1.2 million Class B shares late last month.
Pursuant to a private agreement between Rogers and an arm’s-length third party seller, the purchase was made under an issuer bid exemption order issued by the Ontario Securities Commission.
