MONTREAL, Dec. 21, 2017 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today the completion of the specific share repurchase program (the "Program"), as required by the conditions of an issuer bid exemption order issued by the Ontario Securities Commission on December 6, 2017 in respect of the Program.
Dollarama repurchased from an arm's length third party seller, through daily purchases, a total of 437,000 common shares, being the total number of common shares available under the Program, for an aggregate purchase price of $65,745,456.70. The price that Dollarama paid for each common share purchased from the third party was negotiated by Dollarama and the third party, and represented a discount to the volume weighted average trading price of the common shares on the Canadian markets on the date of each purchase.
The 437,000 common shares purchased under the Program are included in computing the number of common shares purchased by Dollarama under its normal course issuer bid announced on June 7, 2017, which provides authorization for the purchase of up to 5,680,390 common shares during the 12-month period from June 19, 2017 to June 18, 2018. All common shares purchased under the Program were cancelled upon purchase by Dollarama.
Dollarama is a recognized Canadian value retailer offering a broad assortment of everyday consumer products, general merchandise and seasonal items. Our 1,135 locations across Canada provide customers with compelling value in convenient locations, including metropolitan areas, mid-sized cities and small towns. Our quality merchandise is sold in individual or multiple units at select, fixed price points up to $4.00.
SOURCE Dollarama Inc.