Groupe Aeroplan Announces Renewal of its Normal Course Issuer Bid

MONTREAL, May 12 /CNW Telbec/ - Groupe Aeroplan Inc. (TSX: AER) announced today that it has received approval from the Toronto Stock Exchange respecting the renewal of its normal course issuer bid to purchase for cancellation up to 18,001,792 of its common shares, or 10% of the public float of 180,017,923 common shares as at May 10, 2011, through the facilities of the Toronto Stock Exchange and through alternative trading systems (such as Alpha ATS), or by other means as may be permitted by the TSX, such as block purchases, during the period from May 16, 2011 to no later than May 15, 2012. As at May 10, 2011 there were 180,261,910 common shares issued and outstanding.

The average daily trading volume on the Toronto Stock Exchange for the past six months was 663,384 common shares. Under the regulations of the Toronto Stock Exchange, a maximum daily repurchase of 25% of this average may be made, representing 165,846 common shares. In addition, Groupe Aeroplan may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of common shares not directly or indirectly owned by insiders of Groupe Aeroplan, in accordance with the regulations of the Toronto Stock Exchange. The common shares purchased pursuant to the normal course issuer bid will be cancelled.

The Board of Directors of Groupe Aeroplan has concluded that the repurchase of common shares represents an appropriate use of funds to increase shareholder value, as the underlying value of Groupe Aeroplan may not be reflected in the market price of its common shares from time to time.

From May 14, 2010 to May 10, 2011, Groupe Aeroplan purchased an aggregate of 19,754,400 common shares pursuant to its current normal course issuer bid, representing 99% of the full amount Groupe Aeroplan was authorized to purchase, at a weighted average price of $11.64 per share.

About Groupe Aeroplan Inc.

Groupe Aeroplan Inc., a global leader in loyalty management, owns Aeroplan, Canada's premier coalition loyalty program, Carlson Marketing, an international loyalty marketing services, engagement and events provider headquartered in the U.S., as well as Nectar, the United Kingdom's largest coalition loyalty program. Groupe Aeroplan also operates LMG Insight & Communication, an international customer-driven insight and data analytics business. In addition, Groupe Aeroplan has majority equity positions in Air Miles Middle East and Nectar Italia as well as a minority position in Club Premier, Mexico's leading coalition loyalty program. For more information about Groupe Aeroplan, please visit www.groupeaeroplan.com.

Caution Concerning Forward-Looking Statements

Certain statements in this news release may contain forward-looking statements. Forward-looking statements are included in this news release. These forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will", "would", and similar terms and phrases, including references to assumptions. Such statements, by their nature, are based on assumptions and are subject to important risks and uncertainties. Any forecasts or forward-looking predictions or statements cannot be relied upon due to, amongst other things, changing external events and general uncertainties of the economy and the business of Groupe Aeroplan and its partners. Results indicated in forward-looking statements may differ materially from actual results for a number of reasons, including the factors identified throughout Groupe Aeroplan's public disclosure record on file with the Canadian securities regulatory authorities. The forward-looking statements contained in this discussion represent Groupe Aeroplan's expectations as of May 12, 2011 and are subject to change after such date. However, Groupe Aeroplan disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

SOURCE GROUPE AEROPLAN INC.

For further information:

Media 
Michèle Meier
514-205-7028
michele.meier@aeroplan.com
Analysts
Trish Moran
416-352-3728
trish.moran@aeroplan.com

 

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GROUPE AEROPLAN INC.

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