TORONTO, Sept. 25, 2012 /CNW/ - IBI Group Inc. (TSX: IBG) ("IBI" or the
"Company") announced today that it has adopted a dividend reinvestment
The DRIP allows eligible shareholders of IBI to direct that their cash
dividends be reinvested in additional common shares of the Company. IBI
intends to issue the required additional common shares from treasury.
Initially, these shares, when issued from treasury, will be issued at a
discount of 5% from the volume-weighted average trading price of the
common shares of the Company on the Toronto Stock Exchange on the five
trading days preceding the applicable dividend payment date. IBI
reserves the right to limit the amount of the new equity available
under the DRIP on any particular dividend date. IBI reserves the right
at its discretion to direct that common shares be purchased through the
facilities of the Toronto Stock Exchange at prevailing market prices.
IBI Group Management Partnership intends to participate in the DRIP.
This participation will be on the same terms as dividends on common
shares are reinvested and will be by IBI Group Management Partnership
reinvesting a portion of the distributions received on its Class B
Units of the IBI Group partnership in common shares of IBI Group Inc.
Shareholders who wish to participate in the DRIP should contact the
broker through which their common shares are held to provide
appropriate enrolment instructions.
A complete copy of the DRIP is available from Canadian Stock Transfer
Company Inc., as administrative agent for CIBC Mellon Trust Company,
the transfer agent for the common shares and the DRIP agent, by calling
1-800-387-0825 or on their website at www.canstockta.com, or from the Investors section of IBI's website at www.ibigroup.com. Shareholders should carefully read the complete text of the DRIP
before making any decisions regarding their participation in the DRIP.
IBI or CIBC Mellon Trust Company will not charge shareholders
commissions, service charges or brokerage fees in connection with the
purchase of common shares under the DRIP.
Participation in the DRIP does not relieve shareholders of any liability
for taxes that may be payable in respect of dividends that are
reinvested in new common shares under the DRIP. Shareholders should
consult their tax advisors concerning the tax implications of their
participation in the DRIP having regard to their particular
Please note that owners of IBI common shares who are not resident in
Canada are not eligible to participate in the DRIP.
About IBI Group Inc. and IBI Group
IBI Group Inc. is a TSX listed company, which pays monthly dividends and
trades under the symbol "IBG". IBI Group Inc. holds an indirect 77%
interest in IBI Group, a partnership (of a subsidiary of IBI Group Inc.
and IBI Group Management Partnership) which, directly and through its
subsidiary entities, provides professional services, including
planning, design, implementation, analysis of operations and other
consulting services in relation to four main areas of development,
being urban land, building facilities, transportation networks and
systems technology. The remaining 23% of IBI Group is owned by IBI
Group Management Partnership. On a partially diluted basis, assuming
the exchange of its partnership units of IBI Group for common shares of
IBI Group Inc., IBI Group Management Partnership together with
affiliated entities holds a combined 42% interest in IBI Group Inc.
SOURCE: IBI Group Inc.
For further information:
IBI Group Inc.
230 Richmond Street West
Toronto, Ontario M5V 1V6