17.06.2015 03:06:29
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CP Plans To Purchase Up To 853,000 Common Shares Through Private Agreements
(RTTNews) - Canadian Pacific Railway Limited (CP, CP.TO) announced that it plans to purchase for cancellation up to 853,000 of its common shares pursuant to private agreements to be entered into between CP and three arm's-length third-party sellers.
Purchases will be made in accordance with three issuer bid exemption orders issued by the Ontario Securities Commission or "OSC" each dated June 16, 2015, and pursuant to the Orders, may be made in several transactions prior to March 17, 2016.
The price CP will pay for its common shares purchased by way of private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase.
Purchases made by CP will be counted towards CP's normal course issuer bid announced on March 16, 2015 for up to 9.14 million CP common shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under the Bid, being 3.05 million common shares.
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