TORONTO, August 12, 2022 /PRNewswire/ – Restaurant Brands International Inc. (TSX: QSR ) (NYSE: QSR) (“RBI”) announced today that it has filed, and the Toronto Stock Exchange (“TSX”) has accepted, notice of RBI’s intention to renew its normal issuer bid (“NCIB”) for its common shares ( “Common Shares”). The NCIB is being conducted in support of the share buyback authorization approved by the RBI board which allows the RBI to buy up to 1.0 billion US dollars of its common shares until August 10, 2023 (“Repurchase Authorization”).
The TSX notice provides that the RBI may, during the 12-month period commencing August 17, 2022 and ending on August 16, 2023purchase up to 30,254,374 common shares, representing 10% of its outstanding public shares of 302,543,742 common shares as of July 30, 2022 (a total of 306,106,637 common shares have been issued and outstanding as of that date). Purchases under NCIB will be made through the facilities of the TSX, the New York Stock Exchange (“NYSE”) and/or alternative trading systems in Canada and the US, if qualified, or by other means as may be permitted by applicable securities laws, including private agreements. Any purchase made by private agreement pursuant to an issuer bid exclusion order issued by a securities regulatory authority in Canada will generally be at a discount to the prevailing market price as provided in any such exemption order. In addition, the RBI may also enter into derivative-based programs in support of its repurchase activities, including the writing of put options and forward purchase agreements, accelerated share repurchase transactions, other equity contracts or use other methods of acquiring shares, in each case as may be permitted by applicable securities laws or subject to regulatory approval.
Purchases under the NCIB made on the TSX will be made in accordance with TSX rules at a price equal to the market price at the time of purchase or such other price as may be permitted by the TSX. In accordance with TSX rules, any daily repurchases (other than pursuant to a block purchase exception) on the TSX under the NCIB are limited to a maximum of 197,482 Common Shares, representing 25% of the average daily trading volume on the TSX of 789,930 for the six months ended July 31, 2022. Purchases under the NCIB made on the NYSE will be made in accordance with Securities and Exchange Commission Rule 10b-18 and US federal securities laws.
According to his current NCIB that started on August 10, 2021 and has expired August 9, 2022 (“NCIB 2021”), RBI previously sought and received approval from the TSX to repurchase up to 30,382,519 common shares. Regarding July 30, 2022RBI has repurchased a total of 15,042,882 ordinary shares for cancellation under an NCIB in the last 12 months at a weighted average price of approx. 72.58 Canadian dollars for common division and approx 123 million dollars remains available to RBI under Redemption Authorization. All repurchases under an NCIB within the last 12 months were made through the facilities of the NYSE, TSX or an alternative stock exchange in the US or Canada. Additionally, the plan agent under the RBI employee stock purchase plan purchased a total of 5,870 common shares in the last 12 months for the benefit of plan participants at a weighted average price of approx. 72.76 Canadian dollars for joint action.
The RBI believes that the market price of ordinary shares may be such that their purchase may be an attractive and appropriate use of corporate funds. Decisions regarding the amount and timing of future purchases of common stock will be based on market conditions, the stock price and other factors. RBI may choose to modify, suspend or terminate its Redemption Authorization and NCIB at any time. Repurchases under the Repurchase Authorization will be funded using RBI’s cash resources and all shares repurchased will be cancelled. RBI intends to enter into an automatic purchase plan to be effective August 17, 2022 with an intermediary which will enable the RBI to provide future benchmarks and then buy common stock in the open market during periods of self-imposed blackouts. Outside of these blackout periods, common stock may be redeemed in accordance with management’s discretion.
About Restaurant Brands International
Restaurant Brands International Inc. is one of the world’s largest quick service restaurant companies with over 35 billion dollars in annual systemwide sales and over 29,000 restaurants in more than 100 countries. RBI owns four of the world’s most prominent and iconic quick service restaurant brands TIM HORTONS, BURGER KING, POPEYES and FIREHOUSE SUBS. These independently operated brands have served their respective friends, franchisees and communities for decades. Through its restaurant brands for the Goodframework, RBI is improving sustainable outcomes related to its food, planet, people and communities.
This press release contains forward-looking statements and information, which are often identified by the words “may,” “could,” “believe,” “think,” “anticipate,” “plan,” “expect,” “intend” or expressions of similar and reflect management’s expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements include statements about RBI’s expectations and beliefs regarding normal purchases of the issuer’s offerings. Factors that could cause actual results to differ materially from RBI’s expectations are detailed in filings with the U.S. Securities and Exchange Commission and on SEDAR at Canadasuch as its annual and quarterly reports and current reports on Form 8-K, and include the following: risks related to RBI’s substantial indebtedness, risks related to adverse economic and industry conditions, and risks related to unforeseen events, such as adverse weather conditions, natural disasters, terrorist attacks or threats, pandemics, including coronavirus (COVID-19), war in Ukraine or other catastrophic events, all of which could adversely affect its financial condition and prevent it from meeting its obligations. Except as required by US federal securities laws or Canadian securities laws, RBI undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date hereof.
SOURCE Restaurant Brands International Inc.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]
- Dispatch to Pakistan: Ex-PM Khan addresses Rawalpindi rally in latest push for new elections after assassination attempt – JURIST
- Hollywoods 30 Under 30 Ushers in Big Gen Z Energy
- TTFI Elections: Objections to Candidacy of Gujarat Minister Kamlesh Mehta and Three Others
- Before the USA-Iran game, the team faces a tense political press conference
- Trump faces new trial date in rape accuser trial
- ‘Die Hard’ and ‘Matlock’ actor Clarence Gilyard dies at 66
- infosys: Infosys will host Unleash’s Global Innovation Lab on the Mysuru campus starting December 3rd.
- London’s dinosaur stock market is on the verge of extinction but there’s still meat on it
- Flow w/ the Glow: Full Moon Yoga. Bollywood fusion. DJ. Market & More, Wed, Dec 7 2022, 18:00
- EXCLUSIVE: Show off the design of the Google Pixel 7a with a high-res rendering.See what’s changed
- Psycho Bunny continues to travel the world of fashion thanks to the smooth management of orders
- St Ignatius College Prep Chicago hockey team players sue semi-driver Victor Santos over serious bus accident in Warsaw, Indiana: lawyers