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CGI announces intent to repurchase 1.67 million of its shares

Newswire.ca - Fri Feb 23, 5:30AM CST

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GIB.A (TSX)
GIB (NYSE)
cgi.com/newsroom

MONTRÉAL, Feb. 23, 2024 /CNW/ - CGI (TSX: GIB.A) (NYSE: GIB) announced today that it intends to enter into a private agreement with Mr. Serge Godin, Founder and Executive Chairman of the Board of CGI, for the purchase for cancellation of 1,674,930 Class A subordinate voting shares ("Class A Shares") indirectly held by him at a price of $149.26 per Class A Share, for a total consideration of $250 million. The price represents a discount of 3 percent (3%) to the closing price of the Class A Shares on the Toronto Stock Exchange ("TSX") on February 22, 2024. CGI will fund the repurchase from cash on hand.

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