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Colliers Announces Participation in Automated Stock Purchase Plan, Canadian Business Journal

TORONTO, Oct. 03, 2022 (GLOBE NEWSWIRE) — Colliers International Group Inc. (NASDAQ: CIGI) (TSX: CIGI) (“Colliers”) today announced in connection therewith an Automated Stock Purchase Plan (“ASPP”). announced that it was set The previously announced Regular Course Issuer’s Bid (“NCIB”) applies to outstanding Subordinated Voting Shares (“Subordinated Voting Shares”). ASPP will enable Colliers to purchase subordinated voting shares under the NCIB at times when it would not normally be permitted to purchase securities due to regulatory restrictions or customary self-imposed blackout periods The purpose is that.

Pursuant to the ASPP, purchases will be made by Colliers’ designated broker based on pre-established purchase parameters without further direction from Colliers, in accordance with the rules of the Toronto Stock Exchange (“TSX”), applicable securities laws and conditions. It is done. of ASPPs. ASPP has been pre-approved by TSX and will be implemented from October 3, 2022. Terminates on October 28, 2022, unless terminated earlier under the terms of the ASPP.

NCIB will start on July 20, 2022 and end by July 19, 2023 at the latest. All purchases made under the ASPP are included in the calculation of the number of Subordinated Voting Shares purchased under the NCIB.

About Colliers

Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. 17,000 enterprising professionals operating in 63 countries work together to provide clients with expert real estate and investment advice. For more than 27 years, our experienced leadership with significant internal ownership has delivered a 20% compounded annual investment return to shareholders.With annual revenues of $4.5 billion and assets under management of $81 billion, Colliers We maximize the potential of real estate and real assets to accelerate success for our clients, investors and employees. For more information, visit corporate.colliers.com, Twitter @Colliers, or LinkedIn.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements regarding our outlook for financial performance and our goals, beliefs, strategies, objectives, plans or current expectations. These statements involve known and unknown risks, uncertainties and other factors and may cause actual results to differ from the future results, performance or achievements envisioned in the forward-looking statements. can vary greatly. Such factors include: In particular, commercial and consumer credit conditions and economic conditions related to consumer spending, particularly in areas where our business may be concentrated. Commercial real estate asset values, vacancy rates, and general terms of financial liquidity for real estate transactions. Trends in pricing and risk assumptions for commercial real estate services. The impact of large fluctuations in average capitalization rates across different property types. Less reliance on corporate outsourcing for commercial real estate needs. This can affect revenue and performance. competition in the markets we serve; Ability to attract new clients, retain key clients and renew relevant contracts. Ability to retain and incentivize producers. Increased wages and benefits. The impact of changes in interest rates on borrowing costs. An unexpected increase in operating costs such as insurance, workers compensation, and medical care. Changes in the frequency or severity of insured events compared to past experience. The impact of changes in foreign exchange rates against the US dollar on our Canadian dollar, Euro, Australian dollar and British pound denominated revenues and expenses. the impact of the pandemic on customer demand for our services, our ability to provide our services, and the health and productivity of our employees; the impact of global climate change; the impact on our business of political events such as elections, referendums, trade policy changes, immigration policy changes, hostilities and terrorism; Ability to identify and make reasonably priced acquisitions and successfully integrate acquired businesses. Ability to implement and adapt to information technology strategies and trends. Ability to comply with laws and regulations related to our global operations, including real estate and mortgage banking licenses, labor and employment laws and regulations, and anti-corruption laws and trade sanctions. Changes in government laws and policies at the federal, state/provincial or local level that may adversely affect business.

Additional information and risk factors are identified in documents that the Company regularly files with securities regulators in Canada and the United States (factors employed therein and copies thereof available at www.sedar.com). increase). Forward-looking statements contained in this press release speak only as of the date hereof and are subject to change. All forward-looking statements contained in this press release are qualified by these cautionary statements. Colliers undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Company Contact:

Christian Mayer
CFO
(416) 960-9500


CBJ Newsmaker

Colliers Announces Participation in Automated Stock Purchase Plan, Canadian Business Journal

Source link Colliers Announces Participation in Automated Stock Purchase Plan, Canadian Business Journal

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