News & Events

Exchange Bulletin

Hudson’s Bay Company To Trade On Toronto Stock Exchange

November 22, 2012

Hudson's Bay Company (the “Company”) – Further to Toronto Stock Exchange (“TSX”) Bulletins 2012-1260 dated November 15, 2012 and 2012-1280 dated November 20, 2012 an application has been granted for the original listing in the Industrial category of 132,000,000 common shares (the “Shares”) of the Company, of which 120,000,000 Shares will be issued and outstanding, and 12,000,000 Shares will be reserved for issuance upon completion of an initial public offering (the “Offering”).

Listing of the common shares will become effective at 5:01 p.m. on November 23, 2012 in anticipation of the closing of the Offering on November 26, 2012.

The common shares of the Company (Symbol: HBC) commenced trading on TSX on an “if, as and when issued” basis on November 20, 2012. Subject to the closing of the Offering occurring as scheduled prior to the opening on November 26, 2012, trading on an “if, as and when issued” basis will conclude at the close of business on November 23, 2012, unless the Offering closing has been delayed.

Stock Symbol: "HBC"
CUSIP: 444218 10 1
Trading Currency: CDN

Temporary Market
Maker: RBC Capital Markets

Other Markets:None

Additional information on the Shares may be found in the Company‘s Supplemented PREP Prospectus dated November 19, 2012 (the “Prospectus”), which is available at Capitalized terms not otherwise defined are as defined in the Prospectus.

Head Office
Address:401 Bay Street
Suite 500
Toronto, Ontario M5H 2Y4

Head Office
Telephone Number:(416) 861-6932

Fax Number:(416) 861-4200

Investor Relations:Lucas Evans
Senior Vice President and Treasurer
(416) 861-4375

Incorporation:The Company was incorporated in England by Royal Charter on May 2, 1670. By Supplemental Charter dated May 29, 1970, its domicile was transferred to Canada. By certificate of continuance issued on December 13, 1978, the Company was continued under the Canada Business Corporations Act.

Fiscal Year End:January 28 (The Saturday nearest to January 31)

Chief Financial Officer:Michael G. Culhane

Corporate Secretary:David Pickwoad

Nature of Business:The Company is a leading North American retailer offering a wide selection of branded merchandise in Canada and the United States through its three banners: In Canada, the Company operates Hudson's Bay, Canada's largest national branded department store. In the United States the Company operates Lord & Taylor, a fashion department store with locations throughout the northeastern United States and in two major cities in the Midwest. The Company also operates Home Outfitters, a kitchen, bed and bath superstore with locations across Canada.

Dividends:The Company anticipates paying quarterly cash dividends on its Shares equal to approximately $0.08 to $0.11 per Share per quarter, representing an annualized dividend of approximately $0.33 to $0.42 per Share. The amount and timing of the payment of any dividends is not guaranteed and is subject to the discretion of the Company's board of directors.

Transfer Agent &
Registrar:Equity Financial Trust Company at its principal office in Toronto.

Initial Public Offering:Pursuant to the terms of the Prospectus, a total of 21,475,000 Shares are being offered to the public by RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., Merrill Lynch Canada Inc., J.P. Morgan Securities Canada Inc., Scotia Capital Inc., TD Securities Inc., Canaccord Genuity Corp., UBS Securities Canada Inc., Credit Suisse Securities (Canada) Inc. and National Bank Financial Ltd. as underwriters, of which: i) 14,710,000 Shares are to being sold by the Company from treasury and ii) 6,765,000 Shares are being sold through a secondary offering by Hudson's Bay Company (Luxembourg) S. à r. l. (the “Selling Shareholder”) at a price of $ 17.00 per Share (The “Offering Price”) for total gross proceeds of $365,075,000 of which $250,070,000 will be received by the Company.

In addition, the Selling Shareholder has granted the underwriters an over-allotment option exercisable for a 30-day period following the closing of the Offering to purchase from the Selling Shareholder up to an additional 3,221,250 Shares at the Offering Price. The Company will not receive any proceeds from the exercise of the over-allotment option.