Dundee Corporation
TSX : DC.A

Dundee Corporation

June 13, 2016 08:00 ET

Dundee Corporation Renews Its Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwired - June 13, 2016) - Dundee Corporation (TSX:DC.A) ("Dundee") today announced receipt of regulatory approval respecting its intention to continue its normal course issuer bid (the "Bid") through the facilities of the Toronto Stock Exchange ("TSX") from June 15, 2016 to June 14, 2017. Dundee believes that the purchase of its Class A Subordinate Voting Shares ("Class A Shares") at current market prices represents a good long term investment for the Company and its shareholders. The Company purchased a total of 57,000 Class A Shares at an average price of $9.68 under the Company's prior normal course issuer bid which expired on April 15, 2016. Dundee may purchase up to a maximum of 4,324,560 of its Class A Shares, representing approximately 10% of the Company's public float. As of May 31, 2016, Dundee had 55,535,173 Class A Shares issued and outstanding. Dundee may purchase up to 20,674 Class A Shares during any trading day which represents 25% of its average daily trading volume being 82,699 Class A Shares for the most recently completed six calendar months prior to TSX acceptance of the notice of normal course issuer bid, other than pursuant to a block purchase exception. The purchases will be made in accordance with the Policies and Rules of the TSX. The price paid for any Class A Shares acquired will be the market price at the time of purchase and all Class A Shares purchased under the Bid will be cancelled.

ABOUT DUNDEE CORPORATION

Dundee is a public Canadian independent holding company listed on the Toronto Stock Exchange. Through its operating subsidiaries, Dundee is engaged in diverse business activities in the areas of its core competencies including investment advisory and corporate finance, energy, resources, agriculture, real estate and infrastructure. Dundee also holds, directly and indirectly, a portfolio of investments mostly in these core focus areas, as well as other select investments in both publicly listed and private companies.

Contact Information

  • Dundee Corporation
    John Vincic
    Media Relations
    (647) 402-6375

    Dundee Corporation
    Lucie Presot
    Executive Vice President and Chief Financial Officer
    (416) 365-5157