TSX:GWO

WINNIPEG, MB, Jan. 2, 2025 /CNW/ - Great-West Lifeco Inc. (the "Corporation") announced today that it has received approval from the Toronto Stock Exchange ("TSX") for the renewal of its Normal Course Issuer Bid ("NCIB").

Under the renewed NCIB, the Corporation may purchase for cancellation up to 20,000,000 common shares ("Common Shares"), representing approximately 2.15% of its 932,107,643 issued and outstanding Common Shares on December 23, 2024. The term of the NCIB will commence on January 6, 2025 and continue until January 5, 2026, when the bid expires, or such earlier date as the Corporation completes its purchases pursuant to the notice of intention filed with the TSX. The average daily trading volume during the six-month period preceding December 23, 2024 was 2,878,466 Common Shares (excluding purchases by the Corporation under its automatic share purchase plan). Consequently, daily purchases will be limited to 719,616 Common Shares, subject to the TSX rules permitting block purchases. Purchases may be made through the facilities of the TSX and alternative Canadian trading systems or by such other means as may be permitted under applicable law. The price paid for any such repurchased shares will be the prevailing market prices at the time of acquisition. Any Common Shares purchased by the Corporation pursuant to the NCIB will be cancelled. Purchases under the NCIB will be made by the Corporation's broker based upon the parameters prescribed by the TSX and by applicable law.