Industrial Alliance Renews its Normal Course Issuer Bid - 2005 | iA Financial Group
Following the approval of the Toronto Stock Exchange, the Board of Directors of Industrial Alliance Insurance and Financial Services Inc. has authorized the Company to purchase, through an affiliated company, in the normal course of its activities, from March 1, 2005 to February 28, 2006, up to 1,900,000 of its Common Shares, representing approximately 4.8% of the 39,844,340 Common Shares issued and outstanding on February 16, 2005.
Under this authorization, the purchases will be made at market prices through the facility of the Toronto Stock Exchange in accordance with its rules and policies. The Common Shares thereby purchased will not be cancelled and will remain available for future use.
Industrial Alliance believes that the purchase of its Common Shares would represent an effective use of its funds and would be in the best interests of the Company and its shareholders. Shareholders may obtain without charge a copy of the documents filed with the Exchange concerning this Bid by writing to the Legal Department of the Company.
No Common Shares were purchased under previous Normal Course Issuer Bids. The previous Bid ended on December 23, 2004.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company that offers a wide range of insurance products and financial services. The fifth largest life insurance company in Canada, Industrial Alliance is at the head of a large financial group – the Industrial Alliance Group – that has operations across Canada. Industrial Alliance insures over 1.7 million Canadians, employs more than 2,600 people and manages and administers $28.5 billion in assets. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG. Industrial Alliance is among the 100 largest public companies in Canada.
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