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LAVAL, Quebec -- Beginning Aug. 8, 2008, and ending Aug. 7, 2009, the Toronto Stock Exchange approved Alimentation Couche-Tard Inc.’s request to purchase its Class A multiple voting shares and Class B subordinate voting shares on the open market.
Known as a "repurchase program," the Toronto Stock Exchange authorized the company to purchase up to 5 percent or 2,693,860 Class A multiple voting shares and 14,031,210 Class B subordinate voting shares, which represented 10 percent as of July 29, 2008.
The Toronto Stock Exchange requires a maximum daily repurchase of the greater of 25 percent of these averages or 1,000 shares may be made, which represent a total of 1,000 Class A multiple voting shares and a total of 87,747 Class B subordinate voting shares.
According to a released statement by Alimentation Couche-Tard, the company has established an automatic securities purchase plan to provide standard instructions regarding how the company’s shares are to be purchased under the program.
As of July 31, 2008, the company purchased a total of 2,125, 400 of its Class A multiple
voting shares and a total of 5, 859, 706 Class B subordinate voting shares.