Altus Group Announces Completion of Substantial Issuer Bid

Executive Summary

• Altus Group exercised its Substantial Issuer Bid, purchasing and cancelling 2,855,696 common shares at C$57.00 per share for an aggregate purchase price of approximately C$162.77 million.
• The transaction represents about 6.61% of the company’s issued and outstanding shares (net of escrow) and reduces the post‑bid share count to roughly 40,371,564 shares.
• Payment and settlement are scheduled for around January 15, 2026; remaining tendered shares will be returned to shareholders.

Key Details

• Shares Purchased: 2,855,696 common shares at C$57.00 per share.
• Total Purchase Price: Approximately C$162.77 million (well below the maximum C$350 million authorized under the SIB).
• Percentage of Outstanding Shares: ~6.61% (net of escrowed shares) as of January 8, 2026.
• Post‑Bid Share Count: Approximately 40,371,564 shares issued and outstanding (net of 79,328 escrowed shares).
• Tender Process:
• Validly tendered shares: 6,561,903.
• Shares taken up via auction tenders: 2,594,032.
• Shares taken up via proportionate tenders: 261,664.
• No Proration Required: All validly deposited, non‑withdrawn shares were purchased in full under the SIB terms.
• Settlement Date: Expected on or about January 15, 2026, administered by TSX Trust Company (the Depositary).
• Tax Implications:
• Paid‑up capital per share estimated at C$17.84.
• Purchase price exceeds paid‑up capital, resulting in a deemed taxable dividend for Canadian shareholders equal to the excess amount.
• The deemed dividend is classified as an “eligible dividend” under the Income Tax Act (Canada).
• Reference Price: Closing TSX trading price on January 8, 2026 was C$55.75 (the “specified amount” for tax purposes).

Notable Quotes

(No direct quotes were provided in the release.)