Rogers Communications Board Authorizes Repurchase of up to $500 million of Stock

Thu Feb 14, 2013 10:18pm EST

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Announces Intention to Renew Normal Course Issuer Bid to Purchase Class
 B Shares  

TORONTO,  Feb. 14, 2013  /PRNewswire/ - Rogers Communications Inc. ("Rogers")
 announced today that it has filed with the Toronto Stock Exchange
 ("TSX")  a notice of its intention to renew its normal course issuer
 bid ("NCIB") for its Class B Non-Voting shares ("Class B shares") for a
 further one-year period.



As previously stated, the Board of Directors of Rogers has authorized
 such share repurchases because it believes that, at certain times, the
 purchase of Class B shares may represent an appropriate and desirable
 use of Rogers' available funds when, if in the opinion of management,
 the value of the Class B shares exceeds the trading price of such
 shares. Such purchases would provide additional liquidity to
 shareholders and benefit the remaining shareholders by increasing their
 proportionate equity interest in Rogers.



Subject to acceptance by the TSX, the TSX notice provides that Rogers
 may, during the twelve month period commencing  February 25, 2013  and
 ending  February 24, 2014, purchase on the TSX, the New York Stock
 Exchange and/or alternative trading systems the lesser of 35.8 million
 Class B shares, representing approximately 10% of the public float of
 the Class B shares, and that number of Class B shares that can be
 purchased under the NCIB for an aggregate purchase price of  $500
 million.  The actual number of Class B shares purchased, if any, and the timing
 of such purchases will be determined by Rogers considering market
 conditions, stock prices, its cash position, and other factors. As at
  February 11, 2013  there were approximately 402.8 million Class B shares
 issued and outstanding and the public float consisted of approximately
 358.2 million Class B shares.



There cannot be any assurances as to how many shares, if any, will
 ultimately be acquired by Rogers under the NCIB and Rogers intends that
 any shares acquired pursuant to the NCIB will be cancelled. No NCIB is
 proposed to be made for Rogers' Class A Voting shares.



In 2012, Rogers acquired approximately 9.6 million Class B shares at an
 average price of approximately  $36.31  per share under its previous NCIB
 which will expire on  February 23, 2013.



About the Company:



Rogers Communications is a diversified public Canadian communications
 and media company. We are  Canada's  largest provider of wireless
 communications services and one of  Canada's  leading providers of cable
 television, high-speed Internet and telephony services. Through Rogers
 Media, we are engaged in radio and television broadcasting, televised
 shopping, magazines and trade publications, sports entertainment, and
 digital media. We are publicly traded on the Toronto Stock Exchange
 (TSX: RCI.A and RCI.B) and on the New York Stock Exchange (NYSE: RCI).
 For further information about the Rogers group of companies, please
 visit  rogers.com.


SOURCE  Rogers Communications Inc.

Bruce M. Mann, (416) 935-3532,

bruce.mann@rci.rogers.com

;

Dan R. Coombes, (416) 935-3550,

dan.coombes@rci.rogers.com

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