AGF Management Limited - Normal Course Issuer Bid

TORONTO, Jan. 25, 2012 /CNW/ - AGF Management Limited ("AGF") announced today that the Toronto Stock Exchange ("TSX") has approved early termination of its' current normal course issuer bid effective January 26, 2012. The early termination will enable AGF to align the normal course issuer bid with the release of its yearend financial results. AGF acquired 503,500 Class B Non-Voting Shares at a weighted average price of $16.05 under the current normal course issuer bid.

The TSX also approved AGF's Notice of Intention to Make a Normal Course Issuer Bid for the purchase for cancellation from time to time of certain of its Class B Non-Voting Shares from January 27, 2012 to January 26, 2013. As at January 18, 2012, there were 95,413,463 Class B Non-Voting Shares issued and outstanding and the public float consisted of 74,353,689 Class B Non-Voting Shares. Under the announced Normal Course Issuer Bid, AGF would be permitted to purchase up to 7,435,369 Class B Non-Voting Shares or 10% of the public float for such shares.

Under this issuer bid, the purchases will be made through the facilities of TSX or as otherwise permitted by the TSX. Except as permitted by the TSX, AGF will not purchase on any given day under the bid, more than 45,663 which is 25% of the average daily trading volume of its Class B Non-Voting Shares for the six calendar months prior to the date of the Notice. The average daily trading volume of the Class B Non-Voting Shares for such period was 182,652.

The directors of AGF have concluded that the ongoing purchase for cancellation by the Corporation of certain of its outstanding Class B Non-Voting Shares will offset the dilutive effect of share issuances to existing shareholders from treasury of Class B Non-Voting Shares under the Stock Dividend Plan and the Executive Stock Option Plan.

About AGF Management Limited

AGF Management Limited is one of Canada's premier independent investment management firms with offices across Canada and subsidiaries around the world. AGF's products include a diversified family of award-winning mutual funds, mutual fund wrap programs and pooled funds. AGF also manages assets on behalf of institutional investors including pension plans, foundations and endowments as well as for private clients. In addition, AGF Trust is a complementary business that offers GICs, loans and mortgages through the financial advisor and mortgage broker channels. With $46 billion in total assets under management, AGF serves more than one million investors. AGF trades on the Toronto Stock Exchange under the symbol AGF.B.

SOURCE AGF

For further information:

AGF Management Limited shareholders and analysts, please contact: 

Robert J. Bogart, CPA
Executive Vice-President and Chief Financial Officer
416-865-4264, bob.bogart@agf.com

Michael Clabby
Vice-President, Investor Relations and Corporate Development
416-815-6275, michael.clabby@agf.com

Media, please contact: 
Odette Coleman
Director, Public Relations and Public Affairs
416-865-4308, odette.coleman@agf.com

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