Manufacturing Industry
ACE Aviation Holdings Inc to repurchase Class A variable voting shares and Class B voting shares
Airline Industry Information, Dec 5, 2007
AIRLINE INDUSTRY INFORMATION-(C)1997-2007 M2 COMMUNICATIONS LTD
The board of directors of ACE Aviation Holdings Inc (ACE) has announced that has authorised a substantial issuer bid to purchase for cancellation up to CAD1.5 billion of ACE's Class A Variable Voting Shares and Class B Voting Shares for a combined aggregate of up to 54,151,624 Shares.
The company said that the Offer is being made by way of a "modified Dutch auction" pursuant to which shareholders may tender all or a portion of their Shares at a price of not less than CAD27.70 and not more than CAD30.00 per Share, in increments of CAD0.10 per Share, or without specifying a purchase price, in which case their Shares will be purchased at the purchase price determined in accordance with the Offer.
The Offer expires at 17:00 (Montreal time) on 10 January 2008, unless withdrawn or extended by ACE.
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