Calgary Alberta - Canadian Pacific Railway Limited announced today that it intends to purchase for cancellation up to 456,791 of its common shares pursuant to private agreements to be entered into between CP and an arm's-length third-party seller.
 
Purchases will be made in accordance with an issuer bid exemption order issued by the Ontario Securities Commission dated 10 Jun 2014 ("Order"), and pursuant to the Order, may be made in several transactions prior to 16 Mar 2015.
 
The price CP will pay for the common shares purchased by way of the private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase.
 
Purchases will be counted towards CP's share purchase program announced on 11 Mar 2014 for up to 5,270,374 shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under such program, being 1,756,791 common shares.
 
CP was previously granted an issuer bid exemption order by the Ontario Securities Commission on 28 Mar 2014 permitting CP to make private agreement purchases of up to 1,300,000 of its common shares from an arm's length third-party seller.
 
As of today, CP purchased 1,300,000 CP common shares under that order.
 
Information regarding each purchase, including the number of common shares purchased, and aggregate purchase price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com and on EDGAR at www.sec.gov following the completion of any such purchase.

Anonymous Author.