NEW YORK, December 17, 2013 - Thomson Reuters (TSX / NYSE: TRI), the world's
leading source of intelligent information for businesses and professionals,
today announced that it has received approval from the Toronto Stock Exchange
(TSX) to amend its normal course issuer bid (NCIB) in connection with the
company's previously announced plans to purchase up to US$1.0 billion of its
shares through the end of 2014.
Under the amended NCIB, up to 30 million common shares (representing
approximately 3.6% of the total outstanding shares) may now be repurchased
between May 22, 2013 and May 21, 2014 in open market transactions on the TSX,
the New York Stock Exchange and/or other exchanges and alternative trading
systems, if eligible, or by such other means as may be permitted by the TSX. The
NCIB, as originally approved in May 2013, contemplated the repurchase of up to
15 million common shares.
In accordance with TSX rules, any daily repurchases (other than pursuant to a
block purchase exception) on the TSX are limited to a maximum of 258,936 shares,
which represents 25% of the average daily trading volume on the TSX for the six
months ended April 30, 2013. On December 16, 2013, there were 820,431,759
Thomson Reuters common shares outstanding. Any shares that are repurchased are
cancelled. Decisions regarding any future repurchases will be based on market
conditions, share price and other factors, including opportunities to invest
capital for growth. Under the current NCIB, Thomson Reuters repurchased
10,500,484 common shares between May 22, 2013 and December 16, 2013 for a total
cost of approximately US$386 million, representing an average price of US$36.74
per share.
From time to time, when Thomson Reuters does not possess material nonpublic
information about itself or its securities, it may enter into a pre-defined plan
with its broker to allow for the repurchase of shares at times when Thomson
Reuters ordinarily would not be active in the market due to its own internal
trading blackout periods, insider trading rules or otherwise. Any such plans
entered into with Thomson Reuters broker will be adopted in accordance with
applicable Canadian securities laws and the requirements of Rule 10b5-1 under
the U.S. Securities Exchange Act of 1934, as amended.
Thomson Reuters
Thomson Reuters is the world's leading source of intelligent information for
businesses and professionals. We combine industry expertise with innovative
technology to deliver critical information to leading decision makers in the
financial and risk, legal, tax and accounting, intellectual property and science
and media markets, powered by the world's most trusted news organization. With
headquarters in New York and major operations in London and Eagan, Minnesota,
Thomson Reuters employs approximately 60,000 people and operates in over 100
countries. Thomson Reuters shares are listed on the Toronto and New York Stock
Exchanges (symbol: TRI). For more information, go to www.thomsonreuters.com.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Certain statements in this news release are forward-looking. These forward-
looking statements are based on certain assumptions and reflect our company's
current expectations. As a result, forward-looking statements are subject to a
number of risks and uncertainties that could cause actual results or events to
differ materially from current expectations. There is no assurance that the
events described in any forward-looking statement will materialize. You are
cautioned not to place undue reliance on forward-looking statements which
reflect expectations only as of the date of this news release. Except as may be
required by applicable law, Thomson Reuters disclaims any obligation to update
or revise any forward-looking statements.
CONTACTS
MEDIA Â INVESTORS
David Girardin Frank J. Golden
Corporate Affairs Senior Vice President, Investor Relations
+1 646 223 4870 +1 646 223 5288
david.girardin@thomsonreuters.com frank.golden@thomsonreuters.com
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Thomson Reuters Corporation via GlobeNewswire
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