Coveo Announces Renewal of Normal Course Issuer Bid and Automatic Securities Purchase Plan

Core Viewpoint - Coveo Solutions Inc. has announced the renewal of its normal course issuer bid (NCIB) to purchase up to 5,423,244 subordinate voting shares, representing approximately 10% of the public float, over a twelve-month period starting July 17, 2025 [1][6]. Summary by Sections NCIB Details - The NCIB will allow Coveo to purchase shares at market price through open market transactions, including block purchases once per week [3][4]. - The previous NCIB authorized the purchase of 2,690,573 shares, which were fully acquired at a weighted average price of C$6.43 per share [2]. Share Purchase Plan - Coveo has renewed its automatic share purchase plan (ASPP) to facilitate share purchases during regulatory black-out periods [5]. - The ASPP allows the designated broker to make purchases based on parameters set by Coveo prior to black-out periods [5]. Strategic Rationale - The renewal of the NCIB is aimed at providing a capital allocation alternative to enhance long-term shareholder value [6]. - The board believes that the market price of shares may not always reflect their underlying value, and purchasing shares for cancellation can increase each shareholder's relative equity interest [6]. Purchase Conditions - The actual number of shares purchased, timing, and price will depend on various factors including capital positions, operational performance, and market conditions [7].