Manitou BF announced today (29 July) that Manitou BF and Toyota Industries Corporation have signed an agreement relating to the purchase by Manitou BF of a block of 1,120,000 of its own shares at a unit negotiated price of 13.38 (US$14.87) and representing approximately 2.8% of its share capital.
These shares have been purchased from Toyota Industries Corporation in an off-market block trade transaction for a total negotiated amount of 14,985,600 (US$16,620,500).
The purchase of these shares follows the termination of the industrial partnerships between the two companies which occurred in December 2014.
The buyback effectively means that TICO is no longer one of Manitou’s shareholders.
July 29, 2016