The Toronto Stock Exchange has accepted 's notice toproceed with a normal course issuer bid.
Genworth MI Canada may purchase up to an aggregate of 4,589,958of its issued and outstanding common shares, which represents approximately 5%of common shares as of April 25, from time to time over the next 12 monthsthrough the facilities of the Toronto Stock Exchange or through other permittedmeans. Purchases will begin May 5 and should conclude on or before May 4, 2017.
The company can purchase a maximum of 46,275 common shareson a single day. But block purchases andpurchases from Genworth FinancialInc. and its affiliates can exceed 46,275 common shares on a singleday.
Genworth Financial will be allowed to sell Genworth MICanada common shares to the Canadian insurer to maintain its proportionateownership at approximately 57.3%, under an exemption granted by the exchange.Genworth Financial plans to participate proportionately in the bid.
Genworth MI Canada will enter into an automatic purchaseplan agreement with its broker for the implementation of the bid.
The company has purchased for cancellation a total of1,454,196 common shares at a weighted average price per common share of C$34.40as of April 29, under a normal course issuer bid which is set to expire May 4.