CCL Industries Announces Plans to Renew Share Buyback Program

CCL Industries Inc., a key player in specialty label and packaging solutions, declared its intentions to renew its normal course issuer bid (NCIB) for purchasing its Class B non-voting shares. The company plans to submit the notice of intention to the Toronto Stock Exchange (TSX) promptly. Pending TSX approval, CCL aims to buy back up to 14,750,000 shares over the next 12 months, which constitutes about 9.93% of the current public float.

The exact number of shares to be reacquired under the NCIB and the purchase timing will be at the company's discretion, adhering to market regulations. This strategic move is considered by the company to leverage available funds effectively, enhancing shareholder value. The present NCIB, targeting up to 14,500,000 shares, will conclude on May 24, 2024, with 87,305 shares already repurchased.

This announcement is a part of forward-looking statements provided by CCL Industries, reflecting both plans and predictions based on current market analyses and business expectations. The company cautions that these projections are susceptible to risks and uncertainties that may cause actual results to differ significantly.