CGI Group, Inc. (TSX:GIB:A) announces a share repurchase program. Under the bid, the company will repurchase up to 21,798,645 Class A Shares, representing 10% of the public float and 7.89% of the Class A Shares outstanding. The shares will be repurchased at market prices at the time of acquisition.

The repurchases will be made on the open market through the facilities of the TSX and the New York Stock Exchange and through alternative trading systems. The repurchased shares will be cancelled. The company's Management and Board of Directors believe that the repurchase of Class A subordinate voting shares is a proper use of the company's funds, and the NCIB will provide the company with the flexibility to purchase Class A Shares from time to time as the company considers it advisable as part of its strategy to increase shareholder value. The normal course issuer bid will be subject to the approval of the Toronto Stock Exchange.

The daily purchase limit will be 281,431 Class A Shares, representing 25% of the average daily turnover in accordance with the requirements of the TSX. Repurchases will expire on the earlier of February 10, 2015 or the date on which the company has either acquired the maximum number of Class A Shares allowable under the bid or otherwise decided not to make any further repurchases under the bid. As of January 24, 2014, the company has 276,181,109 Class A Shares outstanding and 217,986,459 Class A Shares in public float.