Enerflex Ltd. Announces Normal Course Issuer Bid

Core Viewpoint - Enerflex Ltd. has announced the approval of a Normal Course Issuer Bid (NCIB) to repurchase up to 5% of its public float over the next twelve months, reflecting the company's strategy to enhance shareholder returns and address the perceived undervaluation of its shares [1][2][3]. Group 1 - The NCIB will allow Enerflex to purchase common shares for cancellation through the Toronto Stock Exchange, alternative Canadian trading systems, or the New York Stock Exchange [2]. - The company plans to apply for TSX approval for the NCIB, which will be conducted in accordance with TSX rules and applicable securities laws [2]. - Enerflex's Interim CEO, Preet Dhindsa, emphasized that the company is operating within its target leverage range, enabling it to increase direct shareholder returns through the NCIB and a previously announced 50% increase in its quarterly dividend [3]. Group 2 - The company believes that repurchasing common shares is an effective use of cash resources and is in the best interests of both Enerflex and its shareholders [3]. - Enerflex asserts that the current market price of its common shares does not fully reflect their underlying value, justifying the NCIB [3]. - Further details regarding the NCIB will be provided once TSX approval is obtained [4]. Group 3 - Enerflex is a global provider of energy infrastructure and energy transition solutions, focusing on natural gas and sustainability offerings [8][9]. - The company employs over 4,600 professionals dedicated to transforming energy for a sustainable future [9]. - Enerflex's common shares are traded on both the Toronto Stock Exchange and the New York Stock Exchange [10].