BRP Reveals Preliminary Results of Substantial Issuer Bid


BRP has revealed the preliminary results of its substantial issuer bid (SIB), related to the company’s offer to purchase a number of its subordinate voting shares for cancellation. BRP’s aggregate purchase price was not to exceed $350 million. The SIB expired on July 17.

Based on the preliminary count by Computershare Trust Company of Canada, BRP expects to take up and pay for 8,599,505 shares at a price of $40.70 per share under the SIB, representing an aggregate purchase price of approximately $350 million and 7.7 percent of the total number of BRP’s issued and outstanding shares and multiple voting shares before giving effect to the SIB.