"The automatic share purchase plan allows us to remain active through periods where we would otherwise not be able to repurchase shares. Our capital deployment strategy remains unchanged and, while our priority is to invest in growth opportunities (both organic and through acquisitions), buying back shares at times when the market price may not fully reflect the intrinsic value is a responsible use of our capital," said
Under Intact's automatic share purchase plan, its broker may repurchase shares under the normal course issuer bid at any time including, without limitation, when the Company would ordinarily not be permitted due to regulatory restrictions or blackout periods. Purchases will be made based upon the parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties' written agreement.
Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the company's capital deployment and growth strategies, its strategy for repurchasing shares, the number of shares that may be repurchased under the normal course issuer bid or the automatic share purchase plan, and the timing of such repurchases. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws.
Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements as a result of various factors, including those discussed in the Company's most recently filed Annual Information Form and annual MD&A. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against unduly relying on any of these forward-looking statements. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Please read the cautionary note at the beginning of the MD&A.