Black Diamond Group Limited Launches Automatic Share Purchase Program

Core Viewpoint - Black Diamond Group Limited has initiated an automatic share purchase plan (ASPP) in conjunction with its normal course issuer bid (NCIB) to repurchase up to 4,542,945 common shares, aiming to enhance shareholder value and utilize funds effectively [1][2][3]. Group 1: Normal Course Issuer Bid (NCIB) - The Toronto Stock Exchange has approved Black Diamond's NCIB, allowing the repurchase of up to 4,542,945 common shares from May 10, 2024, to May 9, 2025, or until the maximum is reached [2]. - The company believes that the market price of its common shares may not reflect their underlying value, making the NCIB an attractive investment opportunity [3]. Group 2: Automatic Share Purchase Plan (ASPP) - The ASPP enables share repurchases during regulatory restrictions or self-imposed blackout periods, with termination conditions including reaching the maximum purchase limit or expiration of the NCIB [4]. - Under the ASPP, Black Diamond may instruct its broker to make purchases before entering a blackout period, with purchases made at the broker's discretion within set parameters [5]. Group 3: Share Repurchase Activity - Since the start of the NCIB, Black Diamond has repurchased 252,100 common shares at a weighted average price of $8.23, totaling $2,074,766, with all repurchased shares canceled [6]. Group 4: Company Overview - Black Diamond Group is a specialty rentals and industrial services company operating in Canada, the United States, and Australia, with two main business units: Modular Space Solutions (MSS) and Workforce Solutions (WFS) [7]. - MSS offers a large rental fleet of modular buildings and ancillary services to various sectors, while WFS provides modular accommodation assets and services, including a digital marketplace for crew accommodation through LodgeLink [8][10].