Loblaw Companies Limited initiates Automatic Share Purchase Plan
On December 27, 2024, Loblaw Companies Limited (TSX: L) shared exciting news about entering into an automatic share purchase plan (ASPP) with a broker. This plan will help Loblaw repurchase its common shares under the normal course issuer bid (NCIB) they had introduced earlier.
What does this mean? Well, Loblaw had approval from the Toronto Stock Exchange (TSX) to buy up to 15,336,875 Common Shares during the period from May 6, 2024, to May 5, 2025. This represents about 5% of the total Common Shares available as of April 22, 2024. These purchases will happen on the TSX or through other trading systems as allowed by law.
One cool thing about this ASPP is that Loblaw’s broker can make purchases even when Loblaw can’t trade due to insider trading rules or its internal blackout periods. This ensures fairness and transparency in the process. The ASPP was set up in compliance with Canadian securities laws, so investors can be assured of its legitimacy.
For those unfamiliar with Loblaw, they are Canada’s leading food and pharmacy retailer with a wide range of offerings. From groceries and pharmacy services to apparel and financial products, Loblaw serves Canadians through its numerous locations. They aim to make life better for Canadians, focusing on their needs and well-being in every transaction they make. With a strong presence in the market, Loblaw is committed to meeting and exceeding customer expectations.
For more information, you can visit Loblaw’s website or get in touch with Roy MacDonald, Vice President of Investor Relations, at investor@loblaw.ca. Feel free to reach out if you have any questions or need more details about Loblaw’s recent developments.
