Clothing retailer Gildan Activewear Inc. said March 23 that it entered into an automatic share purchase plan with a designated broker in connection with its previously announced normal course issuer bid to purchase for cancellation up to 10,960,391 shares of the company.
The company's normal course issuer bid commenced Feb. 27 and will end Feb. 26, 2019.
The plan will allow Gildan to purchase common shares under its existing normal course issuer bid at times when the company would normally not be allowed to buy back its shares due to self-imposed blackout periods or regularity restrictions.
The automatic share purchase plan has been pre-cleared by the Toronto Stock Exchange and will take effect from March 26, according to the release.
