Normal Course Issuer Bid
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Eldorado Gold Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-07-31 21:09
Core Viewpoint - Eldorado Gold Corporation has received approval to renew its normal course issuer bid (NCIB) to repurchase up to 10,159,967 common shares, representing 5% of its outstanding shares, as a strategy to enhance shareholder returns and reflect the long-term value of its shares [1][2][6]. Summary by Sections NCIB Details - The NCIB will allow Eldorado to purchase up to 10,159,967 common shares, commencing on August 6, 2025, and ending on July 31, 2026 [2]. - Daily purchases on the TSX will be limited to 101,895 common shares, based on the average daily trading volume [4]. - The previous NCIB, which ran from November 8, 2024, to July 31, 2025, resulted in the purchase of 3,198,353 common shares at an average price of C$27.68 [3]. Share Repurchase Plan - Up to 9,679,967 common shares repurchased will be cancelled, while 480,000 shares will be held in trust for the restricted share unit plan [5]. - An automatic repurchase plan has been established to facilitate share purchases during regulatory black-out periods [7]. Rationale for NCIB - The renewal of the NCIB is based on the belief that the market price of the common shares may not fully reflect their long-term value, making the repurchase an attractive use of available funds [6]. - The company emphasizes its strong balance sheet and ongoing cash generation in a favorable gold price environment as reasons for the NCIB [6]. Company Overview - Eldorado Gold is a producer of gold and base metals with operations in Türkiye, Canada, and Greece, and is committed to responsible operations and enhancing shareholder value [9].
Globex Mining Enterprises Inc. Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-07-28 13:00
Under its current NCIB, which entered into effect on August 2, 2024 and which expires on August 1, 2025, Globex is authorized to purchase up to 1,000,000 shares. Under the NCIB, Globex has repurchased a total of 169,200 common shares at a volume weighted average purchase price of $0.8971 per share, through the facilities of the TSX and on alternative trading systems in Canada. All of the repurchased shares were cancelled by Globex. ROUYN-NORANDA, Québec, July 28, 2025 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTER ...
Extendicare Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-06-26 21:59
Core Viewpoint - Extendicare Inc. has received approval from the Toronto Stock Exchange for the renewal of its normal course issuer bid, allowing the company to repurchase up to 7,281,193 common shares, which is 10% of its public float [1][4] Group 1: NCIB Details - The NCIB will commence on July 2, 2025, and will continue until July 1, 2026, or until the bid is completed [2] - Daily purchases under the NCIB will be limited to 44,803 common shares based on the average daily trading volume of 179,213 shares over the last six months [2] - All common shares purchased under the NCIB will be cancelled [3] Group 2: Rationale and Strategy - The board of directors believes that purchasing common shares may be an attractive use of corporate funds based on market conditions and share price [4] - The company has not purchased any shares under its previous NCIB, which allowed for the purchase of up to 7,159,997 common shares [5] Group 3: Automatic Purchase Plan - Extendicare has established an automatic purchase plan with its designated broker to facilitate share purchases during regulatory black-out periods [6] Group 4: Company Overview - Extendicare is a leading provider of care and services for seniors in Canada, operating 99 long-term care homes and delivering approximately 11.2 million hours of home health care services annually [7] - The company employs around 26,500 qualified team members dedicated to providing high-quality care [7]
High Arctic Overseas Announces Normal Course Issuer Bid
Globenewswire· 2025-06-18 02:17
Core Viewpoint - High Arctic Overseas Holdings Corp. intends to initiate a Normal Course Issuer Bid to repurchase up to 622,408 Common Shares, representing approximately 5% of the total shares outstanding, over a 12-month period from June 20, 2025, to June 19, 2026 [2][4]. Group 1 - The Corporation plans to purchase shares at the prevailing market price, with the actual number and timing of purchases determined by management [2][3]. - Purchases will be conducted on the open market and will be financed from the Corporation's working capital [3]. - The Board of Directors believes the current market price does not reflect the underlying value of the Corporation, making the share repurchase an appropriate use of corporate funds [4]. Group 2 - High Arctic Overseas is a market leader in Papua New Guinea, providing drilling and specialized well completion services, as well as equipment rental solutions [6].
Melcor Developments Ltd. Announces Normal Course Issuer Bid
Globenewswire· 2025-06-06 12:00
Core Viewpoint - Melcor Developments Ltd. has announced its intention to initiate a normal course issuer bid (NCIB) to repurchase up to 1,511,087 common shares, representing approximately 5% of its issued and outstanding shares, over a twelve-month period starting June 10, 2025 [1][2]. Group 1: Normal Course Issuer Bid Details - The NCIB will allow Melcor to purchase common shares for cancellation at the market price at the time of acquisition, subject to TSX guidelines [3]. - The previous NCIB resulted in the purchase of 344,248 common shares at a weighted average price of $12.5877, with a total of 1,525,527 shares approved for repurchase [4]. - As of May 31, 2025, Melcor had 30,221,745 common shares outstanding and an average daily trading volume of 5,867 shares [4]. Group 2: Rationale for Share Repurchase - Melcor believes that its common shares sometimes trade at a price that does not reflect their true value relative to the company's business and future prospects, making the shares an attractive investment for the company [5]. - The repurchase of shares is expected to benefit existing shareholders by increasing their equity interest in Melcor [5]. Group 3: Automatic Share Purchase Plan - Melcor has entered into an automatic share purchase plan (ASPP) with a broker to facilitate share purchases during periods when the company would typically not be active in the market due to regulatory restrictions [6]. - The broker will make purchases under the NCIB based on parameters set by Melcor prior to any restricted or blackout periods, ensuring compliance with TSX rules and applicable securities laws [6]. Group 4: Company Overview - Melcor Developments Ltd. is a diversified real estate development and asset management company, involved in transforming raw land into high-quality residential and commercial properties [7]. - The company has been active in real estate since 1923, having developed over 140 communities and currently managing 4.48 million square feet of commercial real estate and 447 residential rental units [8]. - Melcor operates in multiple regions, including Alberta, Saskatchewan, British Columbia, Arizona, and Colorado, and has been publicly traded since 1968 on the Toronto Stock Exchange [9].
Liberty Defense Commences Normal Course Issuer Bid to Buy Back Up-to 9.9% of the Publically Traded Float
Globenewswire· 2025-06-02 12:01
Core Viewpoint - Liberty Defense Holdings Ltd. intends to initiate a normal course issuer bid (NCIB) to repurchase its common shares, which has been approved by its board of directors and conditionally by the TSX Venture Exchange [1][2]. Group 1: NCIB Details - The company plans to buy up to 5,142,844 shares, representing approximately 10% of its public float, which consists of shares held by non-insiders [2]. - As of May 30, 2025, there are 51,976,722 issued and outstanding shares, with 548,281 shares held by insiders [2]. - The NCIB will commence on June 5, 2025, and will remain open until June 4, 2026, or until completed or terminated by the company [2]. Group 2: Purchase Mechanism - Shares will be purchased at market price plus brokerage fees, and all transactions will occur on the open market through the TSXV [3]. - The company may not acquire more than 2% of its issued and outstanding shares in any 30-day period [2]. Group 3: Rationale for NCIB - The board believes that the market price of the shares may not fully reflect the underlying value of the business, making share repurchase an appropriate use of corporate funds [4]. - Research Capital Corporation has been engaged as the broker to facilitate the share purchases under the NCIB [4]. Group 4: Company Overview - Liberty Defense provides multi-technology security solutions for concealed weapons detection in high-traffic areas such as airports and schools [6]. - The company’s HEXWAVE product, licensed from MIT, offers modular and scalable protection for detecting both metallic and non-metallic weapons [6]. - Liberty has also licensed advanced imaging technologies, including millimeter wave-based body scanners [6].
PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid
Globenewswire· 2025-05-30 12:00
Core Viewpoint - PrairieSky Royalty Ltd. has announced its intention to commence a normal course issuer bid (NCIB) to repurchase up to 15,355,946 common shares, representing approximately 6.5% of the outstanding shares, starting June 4, 2025, and expiring no later than June 3, 2026 [1][2]. Group 1: NCIB Details - The NCIB allows PrairieSky to purchase up to 15,355,946 common shares, which is about 6.5% of the 235,536,040 common shares outstanding as of May 21, 2025 [2]. - The daily purchase limit under the NCIB is set at 99,954 common shares, which is 25% of the average daily trading volume calculated over the six-month period ending April 30, 2025 [3]. - PrairieSky has the option to make one block purchase per calendar week that exceeds the daily repurchase limit [3]. Group 2: Rationale for NCIB - The company believes that the market price of its common shares may not always reflect their underlying value, and repurchasing shares will benefit remaining shareholders by increasing their proportionate interest [4]. - The NCIB is expected to provide increased liquidity for shareholders wishing to sell their shares [4]. Group 3: Historical Context - PrairieSky has previously purchased 3,415,900 common shares under its current NCIB, which authorized the purchase of up to 5,000,000 shares from June 4, 2024, to June 3, 2025 [6]. - Since initiating the NCIB in 2016 until March 31, 2025, PrairieSky has repurchased and canceled a total of 20.1 million common shares at a weighted average price of $16.74 per share [6]. Group 4: Automatic Share Purchase Plan - PrairieSky has established an automatic share purchase plan with CIBC Capital Markets to facilitate the repurchase of its common shares, allowing purchases even during regulatory restrictions or blackout periods [5].
North American Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid
Globenewswire· 2025-05-29 11:30
Core Viewpoint - North American Financial 15 Split Corp. has announced its intention to initiate a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, which will run from June 2, 2025, to June 1, 2026 [1]. Group 1: NCIB Details - The Company plans to buy up to 5,738,811 Preferred Shares and 5,865,279 Class A Shares, representing 10% of the public float of 57,388,118 Preferred Shares and 58,652,794 Class A Shares as of May 21, 2025 [2]. - The Company will limit its purchases to a maximum of 1,147,772 Preferred Shares and 1,174,499 Class A Shares in any 30-day period, which is 2% of the issued and outstanding shares as of May 21, 2025 [2]. - No shares were purchased under the previous NCIB that ended on May 28, 2025 [2]. Group 2: Management Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the Company and represent a desirable use of its funds [3]. Group 3: Investment Portfolio - The Company invests in a high-quality portfolio consisting of 15 financial services companies, including major Canadian and U.S. issuers such as Bank of Montreal, Royal Bank of Canada, and Goldman Sachs Group [4].
Canadian Life Companies Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid
Globenewswire· 2025-05-29 11:30
Core Viewpoint - Canadian Life Companies Split Corp. has announced its intention to initiate a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, which will commence on June 2, 2025, and end on June 1, 2026 [1]. Group 1: NCIB Details - The Company plans to purchase up to 1,090,320 Preferred Shares and 1,012,451 Class A Shares, representing 10% of the public float of 10,903,202 Preferred Shares and 10,124,519 Class A Shares [2]. - As of May 21, 2025, there were 10,985,202 Preferred Shares and 10,662,478 Class A Shares issued and outstanding [2]. - The Company will limit its purchases to no more than 219,704 Preferred Shares or 213,249 Class A Shares in any given 30-day period, which is 2% of the issued and outstanding shares as of May 21, 2025 [2]. Group 2: Management Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the Company and represent a desirable use of its funds [3]. - All repurchased shares will be cancelled following the NCIB [3]. Group 3: Investment Portfolio - The Company invests in a portfolio of four publicly traded Canadian life insurance companies: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation, and Sun Life Financial Inc. [4].
Dividend 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid
Globenewswire· 2025-05-29 11:30
Core Viewpoint - Dividend 15 Split Corp. has announced a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, which will run from June 2, 2025, to June 1, 2026 [1] Group 1: NCIB Details - The company plans to buy up to 12,687,975 Preferred Shares and 13,219,443 Class A Shares, representing 10% of the public float [2] - As of May 21, 2025, there were 127,069,383 Preferred Shares and 132,275,624 Class A Shares outstanding [2] - The company will limit purchases to a maximum of 2,541,387 Preferred Shares and 2,645,512 Class A Shares in any 30-day period [2] Group 2: Previous NCIB - Under the previous NCIB that ran from May 29, 2024, to May 28, 2025, no shares were purchased [2] Group 3: Management Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the company and a desirable use of funds [3] - All repurchased shares will be cancelled [3] Group 4: Investment Portfolio - The company invests in a high-quality portfolio of leading Canadian dividend-yielding stocks, including major banks and financial institutions such as Bank of Montreal, Royal Bank of Canada, and Enbridge [4]