Onex Corporation
TSX : OCX

Onex Corporation

April 14, 2015 09:00 ET

Onex Files Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwired - April 14, 2015) -

All amounts in U.S. dollars unless otherwise stated

Onex Corporation ("Onex") (TSX:OCX) announced today it has filed with the Toronto Stock Exchange, and the Exchange has accepted, a Notice of Intention to make a Normal Course Issuer Bid permitting Onex to purchase for cancellation up to 10% of the public float in its Subordinate Voting Shares, or 8,407,536 shares. There are 108,371,390 Subordinate Voting Shares issued and outstanding and the public float as at March 31, 2015 was 84,075,360 shares.

Onex may buy back shares from time to time during the next twelve months. Any purchases made under the Normal Course Issuer Bid will be effected through the facilities of the Exchange, through other exchanges, alternative trading systems or quotation and trade reporting systems recognized by the Ontario Securities Commission, or by such other means as may be permitted by the TSX. This may include a private agreement pursuant to an issuer bid exemption order issued by a securities regulatory authority. Onex commenced a similar bid on April 16, 2014, which expires on April 15, 2015 and under which a total of 2,741,542 Subordinate Voting Shares were purchased as at March 31, 2015 at an average purchase price of C$65.528 per share. Onex may purchase up to 30,385 Subordinate Voting Shares during any trading day, being 25% of its average daily trading volume of 121,543 Subordinate Voting Shares for the most recently completed six calendar months. Onex may also purchase Subordinate Voting Shares from time to time under the Exchange's block purchase exemption, if available.

The Normal Course Issuer Bid is being renewed as it is Onex' view it is advantageous to the company and its shareholders to continue to engage in repurchases of Subordinate Voting Shares, from time to time, when they are trading at prices which reflect a discount from their value as perceived by Onex.

The Normal Course Issuer Bid will commence on April 16, 2015 and will conclude on the earlier of the date on which purchases under the bid have been completed and April 15, 2016.

About Onex

Onex is one of the oldest and most successful private equity firms with offices in Toronto, New York and London. Through its Onex Partners and ONCAP private equity funds, Onex acquires and builds high-quality businesses in partnership with talented management teams. At Onex Credit, Onex manages and invests in leveraged loans, collateralized loan obligations and other credit securities. The Company has approximately $21 billion of assets under management, including $6.0 billion of Onex capital, in private equity, credit securities. Onex invests its capital through its two investing platforms and is the largest limited partner in each of its private equity funds.

Onex' businesses have assets of $29 billion, generate annual revenues of $21 billion and employ approximately 192,000 people worldwide. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX. For more information on Onex, visit its website at www.onex.com. The Company's security filings can also be accessed at www.sedar.com.

Contact Information

  • Emma Thompson
    Managing Director - Investor Relations
    Tel: 416.362.7711