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Yellow Pages Ltd(Y-T)

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Yellow Pages Limited Announces Plan for $50 million Share Buyback and $12 million Pension Plan Voluntary Contribution - Thu Oct 19, 2023

MONTREAL, Oct. 19, 2023 /CNW/ - Yellow Pages Limited (TSX: Y) (the "Company"), a leading Canadian digital media and marketing company, today announced that the Board has approved a distribution to the Company's shareholders (the "Shareholders") of approximately $50 million by way of a share repurchase from all shareholders pursuant to a statutory arrangement under the Business Corporations Act (British Columbia). The arrangement will be effected pursuant to a plan of arrangement (the "Arrangement") which provides that the Company will repurchase from Shareholders pro rata an aggregate of 4,440,497 common shares at a purchase price of $11.26 per share, which represents the volume weighted average price for the five consecutive trading days ending the trading day immediately prior to October 19, 2023.


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