Transcontinental Inc. announces the implementation of its normal course issuer bid plan

MONTRÉAL, June 13, 2024 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) has been authorized to purchase for cancellation on the open market, between June 17, 2024 and June 16, 2025, up to 3,662,967 of its Class A Subordinate Voting Shares and up to 668,241 of its Class B Shares, representing approximately 5% of the 73,259,342 issued and outstanding Class A Subordinate Voting Shares and of the 13,364,828 issued and outstanding Class B Shares as of June 3, 2024. The average daily trading volume on the Toronto Stock Exchange of Class A Subordinate Voting Shares for the past six months was 171 816 and the average daily trading volume on the Toronto Stock Exchange of Class B Shares for the past six months was 283. In accordance with the Toronto Stock Exchange requirements, a maximum daily purchase of the greater of 25% of these averages or 1,000 shares may be made, which represent a total of 42 954 Class A subordinate Voting Shares and a total of 1,000 Class B Shares. The purchases will be made in the normal course of business at market prices through the facilities of the Toronto Stock Exchange and/or alternative Canadian trading systems in accordance with the requirements of the exchange, and/or subject to the approval of any securities authority by private agreements. If applicable, purchases through private agreements will be executed at a price that is less than the prevailing market price on the Toronto Stock Exchange at the time of the purchase.

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