Rogers Agrees to Purchase 4,000,000 Class B Non-Voting Shares for Cancellation in Private Purchase
TORONTO, Feb. 22 /CNW/ – Rogers Communications Inc. (“Rogers”) announced today that it has agreed to purchase for cancellation 4,000,000 of its outstanding Class B Non-Voting shares (“Class B shares”), or approximately 0.83% of the Class B shares outstanding at February 11, 2010, pursuant to a private agreement between Rogers and an arm’s-length third party seller (the “Private Purchase”) for an aggregate purchase price of $125,560,000. 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 bid.
In the twelve months preceding this purchase, Rogers has repurchased an aggregate 43,776,200 Class B shares, of which an aggregate 10,280,000 Class B shares were repurchased pursuant to issuer bid exemption orders issued by the Ontario Securities Commission and an aggregate 33,496,200 Class B shares were repurchased pursuant to normal course issuer bids. All of the 43,776,200 Class B shares purchased in the twelve months preceding this purchase were repurchased in 2009.
About the Company
We are a diversified Canadian communications and media company. We are engaged in wireless voice and data communications services through Rogers Wireless, Canada’s largest wireless provider. Through Rogers Cable we are one of Canada’s largest providers of cable television services as well as high-speed Internet access, telephony services and video retailing. 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).