The net average daily trading volume for the six-month period preceding October 20, 2010, represents 1,073 [image-nocss] Class A multiple voting shares and 334,488 Class B subordinate voting share.
In accordance with the Toronto Stock Exchange requirements, a maximum daily repurchase of the greater of 25% of these averages or 1,000 shares may be made, which represent a total of 1,000 Class A multiple voting shares and a total of 83,622 Class B subordinate voting shares.
By making such repurchases, 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.
The company may repurchase 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 October 25, 2010, and ending at the latest on October 24, 2011. All shares repurchased under the share repurchase program will be cancelled upon their repurchase.
In connection with the program, the company has established an automatic securities purchase plan to provide standard instructions regarding how the company's shares are to be repurchased under the program. Accordingly, the company may repurchase its shares under the automatic plan on any trading day during the program including during self-imposed trading blackout periods. The automatic plan will commence and should terminate together with the program. It constitutes an "automatic plan" for purposes of applicable Canadian securities legislation and has been reviewed by The Toronto Stock Exchange.
The company has not repurchased shares under its previous share repurchase program which was announced on August 4, 2009.
Laval, Quebec-based Alimentation Couche-Tard is a leader in the Canadian convenience store industry. Its network is comprised of 5,869 convenience stores, 4,141 of which include motor fuel dispensing, located in 11 large geographic markets, including eight in the United States covering 42 states and the District of Columbia, and three in Canada covering all 10 provinces. More than 53,000 people are employed throughout Couche-Tard's retail convenience network and service centers.
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