Canadian Life Companies Split Corp. (TSX:LFE) announces a share repurchase program. Under the normal course issuer bid, the company will repurchase up to 1,025,670 Preferred Shares and 954,903 Class A Shares, repesenting 9.92% and 9.34% of its issued share capital resepcetively. All Preferred Shares or Class A Shares purchased by the Company pursuant to the NCIB will be cancelled. The NCIB will commence on May 29, 2024 and terminate on May 28, 2025. As of May 15, 2024, the company had 10,338,702 Preferred Shares and 10,219,902 Class A Shares issued and outstanding.
Quadravest Capital Management Inc. acted as investment manager to the company.