TSX Symbol: CIX
TORONTO, Jan. 14 /CNW/ - CI Financial Corp. ("CI") announced today that
The Toronto Stock Exchange today accepted CI's notice of intention to continue
with a normal course issuer bid through the facilities of The Toronto Stock
Exchange. CI's bid is a continuation of the issuer bid announced and commenced
in May 2008 by CI Financial Income Fund (the "Fund").
Effective January 1, 2009, the Fund completed a plan of arrangement,
pursuant to which each outstanding trust unit of the Fund and each
exchangeable class B limited partnership unit of Canadian International LP
were exchanged for a common share of CI.
As at January 13, 2009, CI had 294,603,613 common shares ("Shares")
issued and outstanding and a public float of 157,003,470 Shares. The maximum
number of Shares that CI has been authorized to purchase under the NCIB is
15,500,000 Shares. This number represents approximately 10% of the public
float. The Fund purchased a total of 1,985,891 units under the NCIB from May
29, 2008 to December 31, 2008. As a result, prior to the expiry of the NCIB,
CI may purchase up to 13,514,109 Shares (representing the balance remaining
under the issuer bid commenced by the Fund). The purchases commenced on May
29, 2008 and will terminate no later than May 28, 2009.
CI Financial Corp. (TSX: CIX) is an independent, Canadian-owned wealth
management company with approximately $80 billion in fee-earning assets at
December 31, 2008. CI offers a broad range of investment products and
services, including an industry-leading selection of investment funds, and is
on the Web at www.ci.com/cix.
For further information:
For further information: Stephen A. MacPhail, President, Tel.: (416)