Alimentation Couche-Tard Inc., Convenience Store Decisions 2007 Chain of the Year, said that the Toronto Stock Exchange has approved its share repurchase program, authorizing the Laval, Quebec-based company to purchase up to 2,808,765 of the 56,175,312 Class A multiple voting shares and 7,332,066 of the 146,641,334 Class B subordinate voting shares issued and outstanding as at July 27, 2007 (representing 5% of the Class A multiple voting shares and 5% of the
Class B subordinate voting shares, issued and outstanding as at that date, respectively).
The average daily trading volume for the 6-month period preceding July 27, 2007, represents 8,001 Class A multiple voting shares and 534,247 Class B subordinate voting share. In accordance with the Toronto Stock Exchange requirements, a maximum daily repurchase of 25% of these averages may be made. By making such purchases, the number of Class A multiple voting shares and of Class B subordinate voting shares in circulation will be reduced and the proportionate interest of all remaining shareholders in the share capital of the company will be increased on a pro rata basis. If market conditions permit, the company presently anticipates that it will acquire up to 2,808,765 Class A multiple voting shares and up to 7,332,066 Class B subordinate voting shares, which numbers represent approximately 5% of the Class A multiple voting shares and 5% of the Class B subordinate voting shares issued and outstanding as of July 27, 2007.
The company may also purchase Class A multiple voting shares and Class B subordinate voting shares on the open market through the facilities of the Toronto Stock Exchange, from time to time, over the course of 12 months commencing August 8, 2007 and ending on August 7, 2008. All shares purchased under the share repurchase program will be cancelled.
