AGF Management Limited - Normal Course Issuer Bid
Globenewswire·2026-02-06 12:30

Core Viewpoint - AGF Management Limited has received approval from the Toronto Stock Exchange to renew its normal course issuer bid for its Class B Non-Voting Shares, allowing the company to repurchase up to 4,693,830 shares, approximately 10% of the public float as of January 26, 2026 [1][2]. Group 1: Normal Course Issuer Bid Details - The normal course issuer bid allows AGF to purchase shares starting from February 10, 2026, until February 9, 2027 [2]. - AGF is restricted from purchasing shares at a price exceeding 15% of the weighted average price over the ten trading days preceding any purchase [2]. - The average daily trading volume of Class B Non-Voting Shares for the six-month period ending January 31, 2026, was 107,502, allowing AGF to repurchase up to 25% of this volume on the same trading day [4]. Group 2: Purchase Plan and Utilization - AGF will implement an automatic purchase plan with a broker effective February 10, 2026, which will terminate with the normal course issuer bid [3]. - Shares purchased under the issuer bid will either be canceled or held by the AGF Employee Benefit Trust for equity settled incentive plans [5]. - The management believes that repurchasing shares for cancellation is a favorable use of capital when the shares are deemed attractive relative to their trading price [5]. Group 3: Previous Issuer Bid Performance - Under the existing normal course issuer bid, which expires on February 9, 2026, AGF received approval to purchase 4,750,792 shares and acquired 2,757,313 shares at a weighted average price of $13.30 from February 10, 2025, to February 4, 2026 [6]. Group 4: Company Overview - AGF Management Limited, founded in 1957, is an independent asset management firm with over $59 billion in total assets under management, serving more than 820,000 investors [9]. - The company operates through three business lines: AGF Investments, AGF Capital Partners, and AGF Private Wealth, focusing on responsible and sustainable corporate practices [7][8].