Press release from Marketwire
IGM Financial Inc.-Announces Repurchase of Shares Through Private Agreement
Monday, March 21, 2011
WINNIPEG, MANITOBA--(Marketwire - March 21, 2011) - IGM Financial Inc. (TSX:IGM) announced today that it has completed a purchase for cancellation of 750,000 of its common shares pursuant to a private agreement between IGM Financial Inc. and an arm's-length third-party seller. The purchase forms part of IGM Financial Inc.'s normal course issuer bid announced on April 7, 2010.
This purchase was made pursuant to a previously announced issuer bid exemption order issued by the Ontario Securities Commission on March 9, 2011, and was made at a discount to the prevailing market price of IGM Financial Inc.'s common shares on the Toronto Stock Exchange at the time of purchase.
Including this purchase, IGM Financial Inc. has purchased an aggregate of 4,150,000 common shares through exempted private agreements under its current normal course issuer bid, representing approximately 32 per cent of the 13,121,380 common shares which may be purchased under the bid.
IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with $133 billion in total assets under management as of February 28, 2011. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.
FOR FURTHER INFORMATION PLEASE CONTACT:
Ron Arnst IGM Financial Inc. Media Relations (204) 956 3364 email@example.com