BCE » Topics » NCIB

This excerpt taken from the BCE 6-K filed Nov 7, 2007.

NCIB

On December 12, 2006, BCE Inc. announced its plan to renew its share repurchase program for an additional 12-month period to repurchase 5% of its outstanding common shares through a NCIB for which BCE Inc. obtained approval from the Toronto Stock Exchange (TSX) on February 6, 2007. No common shares were repurchased during the third quarter of 2007 as purchases under the NCIB have been suspended. As at September 30, 2007, BCE Inc. had repurchased a total of 7.4 million common shares, representing approximately 18% of the total common shares targeted for repurchase, for a total cash outlay of $227 million.
     Of the total amount, $123 million represents stated capital and reduced the total value of common shares and $9 million reduced the contributed surplus attributable to these common shares. The remaining $95 million was charged to the deficit.
     At September 30, 2007, BCE Inc. had 805.1 million common shares issued and outstanding.

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