TSX: GWO
WINNIPEG, MB, March 4,
2024 /CNW/ - Great-West Lifeco Inc. (the
"Corporation") announced today that, in connection with its
previously announced Normal Course Issuer Bid ("NCIB") to purchase
for cancellation up to 20,000,000 common shares, the Corporation
has entered into an automatic share purchase plan ("ASPP") with a
designated broker. The ASPP has been pre-cleared by the Toronto
Stock Exchange and is expected to be implemented on or about
March 5, 2024.
The ASPP is intended to facilitate repurchases of common shares
under the NCIB, including at times when the Corporation would
ordinarily not be permitted to make purchases due to regulatory
restrictions or self-imposed blackout periods. Purchases will be
made by the Corporation's broker at its sole discretion based on
parameters set by the Corporation in accordance with TSX rules,
applicable law and the terms of the parties' written agreement.
Outside of blackout periods, common shares may also be purchased
based on management's discretion, in compliance with TSX rules and
applicable law.
The Corporation's NCIB commenced on January 29, 2024 and
will continue until January 28, 2025,
when the bid expires, or such earlier date as the Corporation
completes its purchases pursuant to the notice of intention filed
with the TSX. All purchases of common shares made under the ASPP
will be included in determining the number of common shares
purchased under the NCIB. Any common shares purchased by the
Corporation pursuant to the NCIB will be cancelled.
About Great-West Lifeco Inc.
Great-West Lifeco is an
international financial services holding company with interests in
life insurance, health insurance, retirement and investment
services, asset management and reinsurance businesses. We operate
in Canada, the United States and Europe under the brands Canada Life, Empower,
and Irish Life. At the end of 2023,
our companies had over 33,500 employees, 232,000 advisor
relationships, and thousands of distribution partners –serving
approximately 42 million customer relationships. Great-West Lifeco
trades on the Toronto Stock Exchange (TSX) under the ticker symbol
GWO and is a member of the Power Corporation group of companies. To
learn more, visit greatwestlifeco.com.
SOURCE Great-West Lifeco Inc.
