Core Viewpoint - Maple Leaf Foods Inc. has received approval from the Toronto Stock Exchange (TSX) to initiate a normal course issuer bid (NCIB) program, allowing the company to repurchase up to 7,300,000 common shares over the next year, which represents 9.73% of the public float [1][1][1] Summary by Relevant Sections NCIB Program Details - The NCIB program will commence on March 13, 2026, and will end on March 12, 2027, unless completed earlier [1] - The company is authorized to purchase up to 7,300,000 common shares, which is 9.73% of the public float of 74,997,436 common shares as of March 2, 2026 [1] - Daily purchases on the TSX are limited to a maximum of 76,396 common shares, which is 25% of the average daily trading volume for the six months ended February 28, 2026 [1] Previous NCIB Performance - Under the previous NCIB approved on March 11, 2025, the company repurchased 658,800 common shares at a weighted average price of $28.74 per share [1] - The prior NCIB for the purchase of up to 7,400,000 common shares will expire on March 12, 2026 [1] Rationale for NCIB - The company believes that the market price of its common shares may not fully reflect their value, making the repurchase an attractive use of available funds [1] - All shares repurchased under the NCIB will be cancelled [1] Purchase Mechanism - Purchases will be made at the market price at the time of acquisition, and the company has established an automatic share purchase plan with its designated broker for certain pre-determined blackout periods [1] - Outside of these blackout periods, purchases will be made at management's discretion, subject to applicable law [1] Company Overview - Maple Leaf Foods is a leading protein-focused consumer packaged goods company based in Mississauga, Ontario, producing food under various brands [1] - The company is committed to safety, sustainability, and innovation, aiming to deliver shared value for all stakeholders [1]
MAPLE LEAF FOODS RECEIVES TSX APPROVAL TO PROCEED WITH NORMAL COURSE ISSUER BID