Ats Automation (ATA-T) Quote – Press Release

CAMBRIDGE, ON , Dec. 21, 2020 /CNW/ – ATS Automation Tooling Systems Inc. (TSX:ATA.TO) (“ATS” or the “Company”) today announced that the Toronto Stock Exchange (“TSX”) has accepted a notice filed by it of its intention to make a normal course issuer bid (“NCIB”). As of December 9, 2020 , ATS had a total of 92,010,665 common shares issued and outstanding. Under the NCIB, ATS will have the ability to purchase for cancellation up to a maximum of 7,351,834 common shares, representing approximately 10% of the public float of 73,518,347 common shares of the Company that were issued and outstanding as of December 9, 2020 .

Purchases under the NCIB will be made through the facilities of the TSX and/or alternative Canadian trading systems in accordance with applicable regulatory requirements, during the twelve-month period commencing on December 23, 2020 and ending on or before December 22 , 2021.  The average daily trading volume of the common shares on the TSX for the six calendar months ending November 30, 2020 was 344,426 common shares. On any given trading day, ATS will not purchase more than 25% of such average daily trading volume, representing 86,106 common shares, except where such purchases are made in accordance with available block purchase exemptions. The common shares purchased under this NCIB will be cancelled.

Some purchases under the NCIB may be made pursuant to an automatic purchase plan that has been entered into between ATS and its broker.  This plan will enable the purchase of ATS common shares when ATS would not ordinarily be active in the market due to internal trading blackout periods, insider trading rules, or otherwise.

ATS believes that there are times when the market price of its common shares may not reflect their underlying value and that the purchase of shares by ATS will both provide liquidity to existing shareholders and benefit remaining shareholders. The NCIB is viewed by ATS management as one component of an overall capital structure strategy and complementary to its acquisition growth plans.

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