Transcontinental Inc. Announces the Establishment of a New Normal Course Issuer Bid Plan

MONTRÉAL, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Transcontinental Inc. (TSX: TCL.A TCL.B) has been authorized to purchase for cancellation on the open market, between October 1^st, 2018 and September 30, 2019, up to 1,000,000 of its Class A Subordinate Voting Shares and up to 189,344 of its Class B Shares, representing approximately 1.35% of the 73,850,034 issued and outstanding Class A Subordinate Voting Shares and of the 13,983,026 issued and outstanding Class B Shares as of September 18, 2018. The average daily trading volume on the Toronto Stock Exchange of Class A Subordinate Voting Shares for the past six months was 209,664 and the average daily trading volume on the Toronto Stock Exchange of Class B Shares for the past six months was 476. In accordance with the Toronto Stock Exchange requirements, a maximum daily purchase of the greater of 25% of these averages or 1,000 shares may be made, which represent a total of 52,416 Class A subordinate Voting Shares and a total of 1,000 Class B Shares. The purchases will be made in the normal course of business at market prices through the facilities of the Toronto Stock Exchange and/or alternative Canadian trading platforms in accordance with the requirements of the exchange and/or, subject to the approval of any securities authority by private agreements. If applicable, purchases through private agreements will be executed at a price that is less than the prevailing market price on the Toronto Stock Exchange at the time of the purchase.

The Corporation believes that the purchase of the Class A subordinate Voting Shares and Class B Shares would constitute an economically worthwhile use by the Corporation of its funds and is in the best interest of the Corporation and its shareholders. The last normal course issuer bid, in effect from April 17, 2017 until April 16, 2018, covered a maximum of 2,000,000 Class A Subordinate Voting Shares and 442,349 Class B Shares. During the period from September 27, 2017 to April 16, 2018, Transcontinental Inc. purchased in the open market of the Toronto Stock Exchange and/or alternative Canadian trading platforms, 529,610 Class A Subordinate Voting Shares at a weighted average price of $24.50 but  did not purchase any Class B Shares.

In connection with the program, the Corporation established an automatic securities purchase plan to provide standard instructions regarding how the Corporation’s shares are to be repurchased under the program. Accordingly, the Corporation may repurchase its shares under the automatic plan on any trading day during the program including during self-imposed trading blackout periods. The automatic plan will commence and should terminate together with the program. It constitutes an “automatic plan” for purposes of applicable Canadian securities legislation and has been reviewed by the Toronto Stock Exchange.

About TC Transcontinental

TC Transcontinental is a leader in flexible packaging in North America, and Canada’s largest printer. The Corporation is also a Canadian leader in its specialty media segments. For over 40 years, TC Transcontinental's mission has been to create products and services that allow businesses to attract, reach and retain their target customers.

Respect, teamwork, performance and innovation are strong values held by the Corporation and its employees. TC Transcontinental's commitment to its stakeholders is to pursue its business activities in a responsible manner.

Transcontinental Inc. (TSX: TCL.A TCL.B), known as TC Transcontinental, has over 9,000 employees, the majority of which are based in Canada, the United States and Latin America. TC Transcontinental had revenues of approximately C$2.0 billion for the fiscal year ended October 29, 2017. The Corporation has completed, on May 1^st, 2018, the transformational acquisition of Coveris Americas which generated approximately C$1.26 billion in revenues (US$966 million) for its fiscal year ended December 31, 2017. For more information, visit TC Transcontinental's website at 

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Media                                                                                                             

Nathalie St-Jean                                                                                 

Senior Advisor, Communications

TC Transcontinental

Telephone: 514-954-3581                                                                                

Financial Community

Mathieu Hébert

Director, Financial Analysis and Treasury

TC Transcontinental

Telephone: 514-954-4029