HAMILTON -
Closing of the Share Repurchase Transaction is expected to occur by
'This is an exceptional opportunity to take full advantage of the strength we have built in our business over the past four years,' said
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About
About the Selling Shareholder
The Selling Shareholder is a limited partnership organized under the laws of the
Forward-Looking Information
This release contains 'forward-looking information' within the meaning of applicable securities laws. Forward-looking information may relate to our future outlook and anticipated events or results and may include information regarding our financial position, business strategy, growth strategy, acquisition, opportunities, budgets, operations, financial results, taxes, dividend policy, plans and objectives of our Company. Particularly, information regarding our expectations of future results, performance, achievements, prospects or opportunities is forward-looking information. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as 'plans', 'targets', 'expects' or 'does not expect', 'is expected', 'an opportunity exists', 'budget', 'scheduled', 'estimates', 'outlook', 'forecasts', 'projection', 'prospects', 'strategy', 'intends', 'anticipates', 'does not anticipate', 'believes', or variations of such words and phrases or state that certain actions, events or results 'may', 'could', 'would', 'might', 'will', 'will be taken', 'occur' or 'be achieved'. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances may be forward looking statements. Forward-looking statements are not historical facts but instead represent management's expectations, estimates and projections regarding future events or circumstances.
Forward-looking information in this news release includes: the expected closing date and benefits of the Share Repurchase Transaction; the expectations related to the Company's ability to continue funding its ongoing strategic capital initiatives using operating cash flows; the expectation that the Company will allocate its capital in a manner accretive to shareholders; the Company's expectations regarding returns that it will deliver to shareholders in the future; the expectations related to elimination of the perceived overhang of the Selling Shareholder's stock in the market; increased diversification of the Company's shareholder base and improved liquidity in its stock; statements regarding the completion of the Share Repurchase Transaction; and expectations regarding the composition of the Board of Directors.
Undue reliance should not be placed on forward-looking information. The forward-looking information in this press release is based on our opinions, estimates and assumptions in light of our experience and perception of historical trends, current conditions and expected future developments, as well as other factors that we currently believe are appropriate and reasonable in the circumstances. Despite a careful process to prepare and review the forward-looking information, there can be no assurance that the underlying opinions, estimates and assumptions will prove to be correct. These forward-looking statements are subject to risks and uncertainties that could cause the outcome to differ materially from current expectations. Such risks and uncertainties include, among others, the market impact of the announcement of the Share Repurchase Transaction, including on the Company's relationships, operating results and business generally; significant transaction costs or unknown liabilities; and other customary risks associated with transactions of this nature.
Any forward-looking statement speaks only as of the date on which it is made, and, except as required by law, the Company does not undertake any obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all such factors. When considering these forward-looking statements, you should keep in mind the risk factors and other cautionary statements described in the Company's management's discussion and analysis for the year ended
Contact:
Investor
Chief Financial Officer
T: (905) 577-4432
E: paul.scherzer@stelco.com
Media
Vice-President
Corporate Affairs
T: (905) 577-4447
E: trevor.harris@stelco.com
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