IBI Group Inc. Announces Dividend Reinvestment Plan
TORONTO, ONTARIO, September 25, 2012 – IBI Group Inc. (TSX: IBG) (“IBI” or the “Company”) announced today that it has adopted a dividend reinvestment plan (“DRIP”).
The DRIP allows eligible shareholders of IBI to direct that their cash dividends be reinvested in additional common shares of the Company. IBI intends to issue the required additional common shares from treasury.
Initially, these shares, when issued from treasury, will be issued at a discount of 5% from the volume-weighted average trading price of the common shares of the Company on the Toronto Stock Exchange on the five trading days preceding the applicable dividend payment date. IBI reserves the right to limit the amount of the new equity available under the DRIP on any particular dividend date. IBI reserves the right at its discretion to direct that common shares be purchased through the facilities of the Toronto Stock Exchange at prevailing market prices.