AGF - Normal Course Issuer Bid

TORONTO, Jan. 30, 2013 /CNW/ - AGF Management Limited ("AGF") announced today that the Toronto Stock Exchange ("TSX") has 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 (AGF.b) from February 1, 2013 to January 31, 2014.

As at January 17, 2013, there were 89,135,058 Class B Non-Voting Shares issued and outstanding and the public float consisted of 67,292,288 Class B Non-Voting Shares. AGF acquired 7,435,369 Class B Non-Voting Shares at a weighted average price of $11.37 under the current normal course issuer bid. Under the announced normal course issuer bid, AGF is permitted to purchase up to 6,729,228 Class B Non-Voting Shares or 10% of the public float for such shares.  AGF relies on an automatic purchase plan during the normal course issuer bid.  The automatic purchase plan allows for purchases by AGF of its Class B Non-Voting Shares during certain pre-determined black-out periods, subject to certain parameters. Outside of these pre-determined black-out periods, shares will be purchased in accordance with management's discretion.

Under the announced issuer bid, the purchases will be made through the facilities of TSX, alternative trading systems, or as otherwise permitted by the TSX.  Except where reliance is placed on the TSX's block purchase exemption, AGF will not purchase on any given day under the bid, more than 72,893 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 291,574.

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.


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. With over $39 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.

Caution Regarding Forward-Looking Statements

This release includes forward-looking statements. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as 'expects,' 'anticipates,' 'intends,' 'plans,' 'believes' or negative versions thereof and similar expressions, or future or conditional verbs such as 'may,' 'will,' 'should,' 'would' and 'could.' Forward-looking statements are based on certain factors and assumptions, including expected growth, results of operations, economic factors, business prospects, business performance and opportunities. While the company considers these factors and assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking statements are not guarantees of future performance, and actual events and results could differ materially from those expressed or implied by forward-looking statements due to, but not limited to, important risk factors such as level of assets under management, volume of sales and redemptions of investment products, performance of investment funds and of investment managers and advisors, competitive fee levels for investment management products and administration, and competitive dealer compensation levels and cost efficiency in our investment management operations, as well as interest and foreign-exchange rates, taxation, changes in government regulations, unexpected judicial or regulatory proceedings, and the company's ability to complete strategic transactions and integrate acquisitions. The company cautions that the foregoing list is not exhaustive. The reader is cautioned to consider these and other factors carefully and not place undue reliance on forward-looking statements. Forward-looking statements are given only as at the date of this release and other than specifically required by applicable laws, the company is under no obligation (and expressly disclaims any such obligation) to update or alter the forward-looking statements, whether as a result of new information, future events or otherwise. Additional risks and uncertainties can be found in our MD&A for the fiscal year ended November 30, 2011 under the headings "Caution Regarding Forward-Looking Statements" and "Risk Factors and Management of Risk" and in our other filings with Canadian securities regulatory authorities.


For further information:

Robert J. Bogart, CPA 
Executive Vice-President and Chief Financial Officer

Michael Clabby 
Vice-President, Investor Relations and Corporate Development

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