CGI (TSX: GIB.A) (NYSE: GIB) said it has completed its previously announced buyback of 2,490,660 class A subordinate voting shares from la Caisse de dépôt et placement du Québec.
The shares were repurchased at a price of USD40.15 per share for an aggregate price of approximately USD100m.
In connection with the share repurchase, CGI has amended its normal course issuer bid to specifically allow for purchases outside the facilities of the TSX Stock Exchange at a discount to the prevailing market price, pursuant to exemption orders issued by securities regulatory authorities. In accordance with TSX stock exchange rules, the share repurchase will be taken into account when calculating the annual aggregate limit that CGI may repurchase under its normal course issuer bid.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. The company´s website is at www.cgi.com.