Rogers Agrees to Purchase 1,200,000 Class B Non-Voting Shares for Cancellation in Private Purchase
TORONTO, Feb. 28 /CNW/ – Rogers Communications Inc. (“Rogers”) announced
today that it has agreed to purchase for cancellation 1,200,000 of its
outstanding Class B Non-Voting shares (“Class B shares”), or
approximately 0.27% of the Class B shares outstanding at January 31,
2011, pursuant to a private agreement between Rogers and an
arm’s-length third party seller (the “Private Purchase”) for an
aggregate purchase price of $38,363,760, which is at a discount to the
current market price of the Class B shares. The Private Purchase was
made under an issuer bid exemption order issued by the Ontario
Securities Commission. The Class B shares purchased under the Private
Purchase will be included in calculating the number of Class B shares
that Rogers may purchase through its outstanding normal course issuer
In the twelve months preceding this purchase, Rogers has repurchased an
aggregate 34,480,906 Class B shares, of which an aggregate 11,880,000
Class B shares were repurchased pursuant to issuer bid exemption orders
issued by the Ontario Securities Commission and an aggregate 22,600,906
Class B shares were repurchased pursuant to normal course issuer bids.
Of the 34,480,906 Class B shares purchased in the twelve months
preceding this purchase, 1,400,000 were repurchased in 2011 and
33,080,906 were repurchased in 2010.
About the Company
Rogers is a diversified public Canadian communications and media
company. We are Canada’s largest provider of wireless voice and data
communications services and one of Canada’s leading providers of cable
television, high-speed Internet and telephony services. Through Rogers
Media we are engaged in radio and television broadcasting, televised
shopping, magazines and trade publications, and sports entertainment.
We are publicly traded on the Toronto Stock Exchange (TSX: RCI.A and
RCI.B) and on the New York Stock Exchange (NYSE: RCI).