<SEC-DOCUMENT>0001193125-21-344560.txt : 20211201
<SEC-HEADER>0001193125-21-344560.hdr.sgml : 20211201
<ACCEPTANCE-DATETIME>20211201090052
ACCESSION NUMBER:		0001193125-21-344560
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20211201
FILED AS OF DATE:		20211201
DATE AS OF CHANGE:		20211201

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BRP Inc.
		CENTRAL INDEX KEY:			0001748797
		STANDARD INDUSTRIAL CLASSIFICATION:	MISCELLANEOUS TRANSPORTATION EQUIPMENT [3790]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A8

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38648
		FILM NUMBER:		211461557

	BUSINESS ADDRESS:	
		STREET 1:		726 SAINT-JOSEPH STREET
		CITY:			VALCOURT
		STATE:			A8
		ZIP:			J0E 2L0
		BUSINESS PHONE:		450-532-2211

	MAIL ADDRESS:	
		STREET 1:		726 SAINT-JOSEPH STREET
		CITY:			VALCOURT
		STATE:			A8
		ZIP:			J0E 2L0
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>d238915d6k.htm
<DESCRIPTION>6-K
<TEXT>
<HTML><HEAD>
<TITLE>6-K</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">6-K</FONT> </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE <FONT STYLE="white-space:nowrap">13A-16</FONT> OR
<FONT STYLE="white-space:nowrap">15D-16</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>For the month of December, 2021 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Commission File Number: <FONT STYLE="white-space:nowrap">001-38648</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>BRP INC. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Translation of
registrant&#146;s name into English) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>726 Saint-Joseph Street </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Valcourt, Quebec, Canada </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal executive office) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant files or will file annual reports under cover Form <FONT STYLE="white-space:nowrap">20-F</FONT> or Form <FONT
STYLE="white-space:nowrap">40-F.</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form <FONT STYLE="white-space:nowrap">20-F</FONT> &#9744; Form <FONT STYLE="white-space:nowrap">40-F</FONT>
&#9746; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT
STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(1): <U>&nbsp;&nbsp;</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark if the registrant is submitting the Form <FONT
STYLE="white-space:nowrap">6-K</FONT> in paper as permitted by Regulation <FONT STYLE="white-space:nowrap">S-T</FONT> Rule 101(b)(7): <U>&nbsp;&nbsp;</U> </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Exhibit 99.1 to this report of a Foreign Private Issuer on Form <FONT STYLE="white-space:nowrap">6-K</FONT> is deemed filed for all purposes under the
Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="bottom" NOWRAP ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Exhibit</B><br><B>No.</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP STYLE="border-bottom:1.00pt solid #000000"> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d238915dex991.htm">Press release of BRP Inc., announcing Normal Course Issuer Bid, dated December&nbsp;1, 2021 </A></TD></TR>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><B>BRP Inc.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:12pt; font-family:Times New Roman">&nbsp;&nbsp;/s/ S&eacute;bastien Martel</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">Name:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;S&eacute;bastien Martel</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:12pt">
<TD VALIGN="top">Title:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">&nbsp;&nbsp;Chief Financial Officer</TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman">Date: December&nbsp;1, 2021 </P>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>d238915dex991.htm
<DESCRIPTION>EX-99.1
<TEXT>
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<TITLE>EX-99.1</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="right"><B>Exhibit 99.1 </B></P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" ALIGN="right"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:ARIAL" ALIGN="right"><B><I>PRESS RELEASE</I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:ARIAL" ALIGN="right">For immediate distribution</P></TD></TR>
</TABLE> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>BRP ANNOUNCES THE RENEWAL </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:14pt; font-family:ARIAL" ALIGN="center"><B>OF ITS NORMAL COURSE ISSUER BID </B></P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify"><B><I>Valcourt</I></B><B><I>, Quebec, December</I></B><B><I></I></B><B><I>&nbsp;1, 2021</I></B> <B><I>&#150; </I></B>BRP Inc. (TSX:DOO; NASDAQ: DOOO)
announces today that the Toronto Stock Exchange (the &#147;TSX&#148;) has approved the renewal of its normal course issuer bid (&#147;NCIB&#148;) to purchase for cancellation up to 3,787,945 subordinate voting shares over the twelve-month period
commencing on December&nbsp;3, 2021 and ending no later than December&nbsp;2, 2022, representing approximately 10% of the public float of 37,879,457 subordinate voting shares as at November&nbsp;29, 2021. As at November&nbsp;29, 2021, 39,049,636
subordinate voting shares were issued and outstanding. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The NCIB will be conducted through the facilities of the TSX or alternative trading systems,
if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including <FONT
STYLE="white-space:nowrap">pre-arranged</FONT> crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Under TSX rules, BRP will be allowed to purchase daily, through the facilities of the TSX, a maximum of 59,716 subordinate voting shares representing
25% of the average daily trading volume, as calculated per the TSX rules for the most recently completed six calendar months. In addition, BRP may make, once per week, a block purchase (as such term is defined in the TSX Company Manual) of
subordinate voting shares not directly or indirectly owned by insiders of BRP, in accordance with TSX rules. The subordinate voting shares purchased pursuant to the NCIB will be cancelled. </P>
<P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The price to be paid by BRP for any subordinate voting share will be the market price at the time of acquisition, plus brokerage fees. In the event that
BRP purchases subordinate voting shares by <FONT STYLE="white-space:nowrap">pre-arranged</FONT> crosses, exempt offers, block purchases or private agreements, the purchase price of the subordinate voting shares may be, and will be in the case of
purchases by private agreements, at a discount to the market price of the subordinate voting shares at the time of the acquisition. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">In connection
with this NCIB, BRP has entered into an automatic share purchase plan (the &#147;APP&#148;) with a designated broker to allow for the purchase of subordinate voting shares under the NCIB at times when BRP would ordinarily not be permitted to
purchase shares due to regulatory restrictions or self-imposed blackout periods. Pursuant to the APP, before entering into a blackout period, BRP may, but is not required to, instruct the designated broker to make purchases under the NCIB in
accordance with the terms of the APP. Such purchases will be determined by the broker in its sole discretion based on parameters established by BRP prior to the blackout period in accordance with the rules of the TSX, applicable Canadian and United
States securities laws and the terms of the APP. The APP has been <FONT STYLE="white-space:nowrap">pre-cleared</FONT> by the TSX and will be implemented effective January&nbsp;24, 2022. Outside of
<FONT STYLE="white-space:nowrap">pre-determined</FONT> blackout periods, subordinate voting shares will be purchased under the NCIB based on management&#146;s discretion, in compliance with TSX rules and applicable securities laws. All repurchases
made under the APP will be included in computing the number of subordinate voting shares purchased under the NCIB. </P> <P STYLE="margin-top:10pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">Under the NCIB that expired on
November&nbsp;30, 2021, BRP purchased 4,278,028 subordinate voting shares at a volume weighted average price of $93.65. Purchases were effected through the facilities of the TSX and at such times and in such numbers as determined by BRP in
accordance with the policies and rules of the TSX. Purchases were also made through alternative eligible trading systems. Between December&nbsp;1, 2020 and November&nbsp;30, 2021, BRP was allowed to purchase a total of 4,278,028 subordinate voting
shares, representing approximately 10% of the public float of 42,780,280 subordinate voting shares as at November&nbsp;23, 2020. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:6.5pt; font-family:ARIAL" ALIGN="right"> Page
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL" ALIGN="justify">The Board of Directors of BRP believes that the purchase by BRP of its subordinate voting shares could
represent an appropriate and desirable use of its available cash to increase shareholder value. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><B>About BRP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10.5pt; font-family:ARIAL" ALIGN="justify">We are a global leader in the world of powersports vehicles, propulsion systems and boats built on over 75 years of ingenuity and intensive consumer
focus. Our portfolio of industry-leading and distinctive products includes <FONT STYLE="white-space:nowrap">Ski-Doo</FONT> and Lynx snowmobiles, <FONT STYLE="white-space:nowrap">Sea-Doo</FONT> watercraft,
<FONT STYLE="white-space:nowrap">Can-Am</FONT> on and <FONT STYLE="white-space:nowrap">off-road</FONT> vehicles, Alumacraft, Manitou, Quintrex boats and Rotax marine propulsion systems as well as Rotax engines for karts and recreational aircraft. We
complete our lines of products with a dedicated parts, accessories and apparel business to fully enhance the riding experience. With annual sales of CA$6.0&nbsp;billion from over 130 countries, our global workforce is made up of more than 14,500
driven, resourceful people. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL; font-size:11pt" COLOR="#0000ff"><U>www.brp.com</U></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:11pt; font-family:ARIAL"><FONT STYLE="font-family:ARIAL; font-size:11pt" COLOR="#0000ff"><U>@BRPNews</U></FONT><FONT STYLE="font-family:ARIAL"> </FONT></P>
<P STYLE="margin-top:8pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="justify"><FONT STYLE="white-space:nowrap">Ski-Doo,</FONT> Lynx, <FONT STYLE="white-space:nowrap">Sea-Doo,</FONT> <FONT STYLE="white-space:nowrap">Can-Am,</FONT>
Rotax, Alumacraft, Manitou, Quintrex, Stacer, Savage, Evinrude and the BRP logo are trademarks of Bombardier Recreational Products Inc. or its affiliates. All other trademarks are the property of their respective owners. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL"><B><I>CAUTION CONCERNING FORWARD-LOOKING STATEMENTS </I></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:ARIAL" ALIGN="justify"><I>Certain statements included in this release, including, but not limited to, statements relating to the renewal of the normal course issuer bid and
potential purchases of subordinate voting shares by BRP thereunder, or any other future events or developments and other statements that are not historical facts, constitute &#147;forward-looking statements&#148; within the meaning of applicable
securities laws. The words &#147;may&#148;, &#147;will&#148;, &#147;would&#148;, &#147;should&#148;, &#147;could&#148;, &#147;expects&#148;, &#147;forecasts&#148;, &#147;plans&#148;, &#147;intends&#148;, &#147;trends&#148;, &#147;indications&#148;,
&#147;anticipates&#148;, &#147;believes&#148; &#147;estimates&#148;, &#147;outlook&#148;, &#147;predicts&#148;, &#147;projects&#148;, &#147;likely&#148; or &#147;potential&#148; or the negative or other variations of these words or other comparable
words or phrases, are intended to identify forward-looking statements. Forward-looking statements, by their nature, involve inherent risks and uncertainties and are based on assumptions, both general and specific.The Company cautions that its
assumptions may not materialize and that current economic conditions render such assumptions, although believed reasonable at the time they were made, subject to greater uncertainty. Actual results or future events or developments may differ
materially from those expressed or implied by the forward-looking statements due to a number of factors, including the impact of adverse economic conditions such as those resulting from the ongoing <FONT STYLE="white-space:nowrap">COVID-19</FONT>
health crisis (including on consumer spending, the Company&#146;s operations and supply and distribution chains, the availability of credit and the Company&#146;s workforce) as well as those identified in BRP&#146;s annual management&#146;s
discussion and analysis and audited consolidated financial statements for its fiscal year 2021, the management&#146;s discussion and analysis and interim financial statements for the first three quarters of its fiscal year 2022 and the other recent
and future filings with applicable Canadian and U.S. securities regulatory authorities, available on SEDAR at sedar.com or EDGAR at sec.gov, respectively. These factors are not intended to represent a complete list of the factors that could affect
the Company; however, these factors should be considered carefully. The forward-looking statements contained in this press release are made as of the date of the press release and the Company has no intention and undertakes no obligation to update
or revise any forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities regulations. In the event that the Company does update any forward-looking statements
contained in this press release, no inference should be made that the Company will make additional updates with respect to that statement, related matters or any other forward-looking statement. </I></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:ARIAL" ALIGN="center"><SUP STYLE="font-size:85%; vertical-align:top">.</SUP>-30- </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"><B>For media enquiries:</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><B>For investor relations:</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="10"></TD>
<TD HEIGHT="10" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Magali Valence</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Philippe Desch&ecirc;nes</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top">Media Relations</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Investor Relations</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top"><FONT COLOR="#0000ff"><U>media@brp.com</U></FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Tel.: 450.532.6462</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:ARIAL; font-size:10.5pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT COLOR="#0000ff"><U>philippe.deschenes@brp.com</U></FONT></TD></TR>
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</DOCUMENT>
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