TORONTO,
Feb. 9, 2016 /CNW/ - Celestica
Inc. (NYSE, TSX: CLS), a global leader in the delivery of
end-to-end product lifecycle solutions, today announced that it
intends to file with the Toronto Stock Exchange (TSX) a notice of
intention to commence a new normal course issuer bid (NCIB) during
the first quarter of 2016. If this notice is accepted by the TSX,
the Company expects to repurchase for cancellation, at its
discretion during the 12 months following such acceptance, up to
10% of the "public float" (calculated in accordance with the rules
of the TSX) of the Company's issued and outstanding subordinate
voting shares. Purchases under the NCIB will be conducted in
the open market or as otherwise permitted, subject to the terms and
limitations to be applicable to such NCIB. The Company believes
that the NCIB will be in the best interest of the Company and
constitutes a desirable use of its funds.
About Celestica
Celestica is dedicated to delivering end-to-end
product lifecycle solutions to drive our customers' success.
Through our simplified global operations network and information
technology platform, we are solid partners who deliver informed,
flexible solutions that enable our customers to succeed in the
markets they serve. Committed to providing a truly differentiated
customer experience, our agile and adaptive employees share a proud
history of demonstrated expertise and creativity that provides our
customers with the ability to overcome complex challenges.
For further information about Celestica, visit
www.celestica.com. The Company's securities filings can also be
accessed at www.sedar.com and www.sec.gov.
Cautionary Note Regarding Forward-Looking
Statements
This news release contains forward-looking
statements, including those related to the Company's intention to
commence an NCIB and, if accepted by the TSX, the timing, methods
and quantity of any purchases of subordinate voting shares under
the NCIB. Such forward-looking statements may, without limitation,
be preceded by, followed by, or include words such as "believes",
"expects", "anticipates", "estimates", "intends", "plans",
"continues", "project", "potential", "possible", "contemplate",
"seek", or similar expressions, or may employ such future or
conditional verbs as "may", "might", "will", "could", "should" or
"would", or may otherwise be indicated as forward-looking
statements by grammatical construction, phrasing or context.
For those statements, the Company claims the protection of the safe
harbor for forward-looking statements contained in the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities laws. Forward-looking statements are provided for the
purpose of assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes. Forward-looking statements are not guarantees of future
performance and are subject to risks that could cause actual
results to differ materially from conclusions, forecasts or
projections expressed in such statements, including, among others,
risks related to the Company's future capital requirements, market
and general economic conditions, demand for the Company's
customers' products, and unforeseen legal or regulatory
developments. These and other risks and uncertainties, as well as
other information related to the Company, are discussed in the
Company's various public filings at www.sedar.com
and www.sec.gov, including in the Company's
interim Management's Discussion and Analysis of Financial Condition
and Results of Operations, the Company's Annual Report on Form 20-F
and subsequent reports on Form 6-K filed with or furnished to (as
applicable) the U.S. Securities and Exchange Commission, and the
Company's Annual Information Form filed with the Canadian
Securities Administrators. The forward-looking statements contained
in this press release are based on various assumptions, many of
which involve factors that are beyond the Company's control. The
material assumptions include those related to the following: the
Company's view with respect to its financial condition and
prospects; the stability of general economic and market conditions;
currency exchange rates and interest rates; the availability of
cash for repurchases of outstanding subordinate voting shares under
an NCIB; the existence of alternative uses for the Company's cash
resources which may be superior to effecting repurchases under an
NCIB; compliance by third parties with their contractual
obligations; and compliance with applicable laws and regulations
pertaining to NCIBs. While management believes these assumptions to
be reasonable under the current circumstances, they may prove to be
inaccurate. Except as required by applicable law, the Company
disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Celestica Inc.