VANCOUVER, Aug. 30, 2019 /PRNewswire/ - Aritzia Inc. ("Aritzia" or the "Company") (ATZ.TO) today announced that, in connection with its previously announced normal course issuer bid ("NCIB") to purchase up to 3,624,915 of its subordinate voting shares ("Shares"), it entered into an automatic share purchase plan ("ASPP") with a designated broker. The ASPP is intended to allow for the purchase of Shares under the NCIB at times when Aritzia would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.
Pursuant to the ASPP, before entering into a blackout period, the Company may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ASPP. Such purchases will be determined by the designated broker at its sole discretion based on purchasing parameters set by Aritzia in accordance with the rules of the Toronto Stock Exchange ("TSX"), applicable securities laws and the terms of the ASPP. The ASPP has been pre-cleared by the TSX and will be implemented today.
Outside of pre-determined blackout periods, Shares may be purchased under the NCIB based on management's discretion, in compliance with TSX rules and applicable securities laws. The NCIB commenced on July 16, 2019 and ends on July 15, 2020. All purchases made under the ASPP will be included in computing the number of Shares purchased under the NCIB.
Aritzia is a vertically integrated, innovative design house of fashion brands. The Company designs apparel and accessories for its collection of exclusive brands. The Company's expansive and diverse range of women's fashion apparel and accessories addresses a broad range of style preferences and lifestyle requirements. Aritzia is well known and deeply loved by its clients in Canada with growing client awareness and affinity in the United States and outside of North America. Aritzia aims to delight its clients through an aspirational shopping experience and exceptional client service that extends across its more than 90 boutiques and eCommerce business, aritzia.com.
Certain information contained in this press release may constitute forward-looking information under applicable securities laws, including statements related to the Company's NCIB and ASPP and other statements that are not historical facts. This information is based on management's reasonable assumptions and beliefs in light of the information currently available to us and are made as of the date of this press release. However, we do not undertake to update any such forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. Actual results and the timing of events may differ materially from those anticipated in the forward-looking information as a result of various factors, including those described in "Risk Factors" which are described in the Company's annual information form dated May 9, 2019 for the fiscal year ended March 3, 2019 (the "AIF"). The Company cautions that the list of risk factors and uncertainties is not exhaustive and other factors could also adversely affect its results. Readers are urged to consider the risks, uncertainties and assumptions carefully in evaluating the forward-looking information and are cautioned not to place undue reliance on such information. See "Forward-looking Information" and "Risk Factors" in the AIF for a discussion of the uncertainties, risks and assumptions associated with these statements.
The TSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this statement.