Onex Corporation

Onex Corporation

November 14, 2014 16:37 ET

Onex Files Second Amended Normal Course Issuer Bid

TORONTO, ONTARIO--(Marketwired - Nov. 14, 2014) -

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 Second Amended Notice of Intention to its Normal Course Issuer Bid ("NCIB"). The amendment permits Onex to make off-exchange block purchases under the NCIB by way of private agreement under an issuer bid exemption order issued by a securities regulatory authority. Any such purchases are expected to be at a discount to the prevailing market price and any shares so purchased will count against the NCIB limits.

The current NCIB permits Onex to purchase for cancellation up to 10% of the public float in its Subordinate Voting Shares ("SVS"), or 8,620,038 shares. To date, Onex has purchased 1,792,172 shares for cancellation since the commencement of its current NCIB.

Onex may continue to buy back shares from time to time during the next five months. Any purchases made under the NCIB will be effected through the facilities of the Exchange, through alternative trading systems or by way of private agreement. Onex may purchase up to 31,274 SVS during any trading day, being 25% of its average daily trading volume of 125,096 SVS for the most recently completed six calendar months. Onex may also purchase SVS from time to time under the Exchange's block purchase exemption, if available.

The NCIB will continue until the earlier of the date on which purchases under the bid have been completed and April 15, 2015.

Contact Information

  • Onex Corporation
    Emma Thompson
    Head of the Funds Group