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|BRP Board announces normal course issuer bid|
The normal course issuer bid will be conducted through the facilities of the
Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 20,209 subordinate voting shares representing 25% of the average daily trading volume, as calculated per the TSX rules for the most recently completed six calendar months. In addition, BRP may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of subordinate voting shares not directly or indirectly owned by insiders of BRP, in accordance with TSX rules. The subordinate voting shares purchased pursuant to the normal course issuer bid will be cancelled.
The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees, or such other price as the TSX may permit. In the event that BRP purchases subordinate voting shares by pre-arranged crosses, exempt offers, block purchases or private agreements, the purchase price of the subordinate voting shares may be, and will be in the case of purchases by private agreements, at a discount to the market price of the subordinate voting shares at the time of the acquisition.
BRP has not purchased any of its subordinate voting shares within the past 12 months. The Board of Directors of BRP believes that the purchase by BRP of its subordinate voting shares could represent an appropriate and desirable use of its available cash to increase shareholder value.
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