IGM Financial Inc.
TSX : IGM

IGM Financial Inc.

September 13, 2010 11:58 ET

IGM Financial Inc.-Announces Plan to Buy Back Shares Through Private Agreements

WINNIPEG, MANITOBA--(Marketwire - Sept. 13, 2010) - IGM Financial Inc. (TSX:IGM) announced today that it intends to purchase for cancellation up to one million of its common shares pursuant to private agreements between IGM Financial Inc. and an arm's-length third-party seller. The purchases will form part of IGM Financial Inc.'s 13,121,380 share repurchase program announced on April 7, 2010.

Such purchases will be made pursuant to an issuer bid exemption order issued by the Ontario Securities Commission and will take place on or before the end of the day on October 6, 2010. The price that IGM Financial Inc. will pay for any common shares purchased by it under such agreements will be negotiated by IGM Financial Inc. and the seller and will be at a discount to the prevailing market price of IGM Financial Inc.'s common shares on the Toronto Stock Exchange at the time of the purchase.

The above-mentioned private agreements are in addition to agreements announced on June 30, 2010, pursuant to which IGM Financial Inc. purchased for cancellation 850,000 of its common shares, such that IGM Financial Inc. will have purchased under exempted private agreements an aggregate of up to 1,850,000 common shares, accounting for approximately 14 per cent of the 13,121,380 common shares which may be purchased under the share repurchase program.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with over $118 billion in total assets under management. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies. 

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