Gildan Activewear Announces Plan To Buy Back Shares Through Private Agreements

MONTREAL — February 28, 2017 — Gildan Activewear Inc. announced today that it intends to purchase for cancellation up to 877,000 of its common shares pursuant to one or more private agreements between Gildan and an arm’s‐length third‐party seller. The purchases will form part of Gildan’s normal course issuer bid for up to 11,512,267 shares announced on February 23, 2017.

Such purchases will be made pursuant and subject to the terms of an issuer bid exemption order issued by the Ontario Securities Commission (Order) and will take place before February 26, 2018. In accordance with the Order, Gildan’s purchases under such private agreements will not exceed, in the aggregate, one‐third of the maximum number of shares that it may purchase under its recently announced share repurchase program, or 3,837,422 common shares. The price that Gildan will pay for any common shares purchased by it under such agreements will be negotiated by Gildan and the third-party seller and will be at a discount to the prevailing market price of Gildan’s common shares on the Toronto Stock Exchange at the time of the purchase. Information regarding each purchase, including the number of common shares purchased and aggregate purchase price, will be available on the System for Electronic Document Analysis and Retrieval (SEDAR) at following the completion of any such purchase.

Posted February 28, 2017

Source: Gildan Activewear Inc.