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Aecon Announces Renewal of Normal Course Issuer Bid
Globenewswire· 2025-08-15 12:07
Core Viewpoint - Aecon Group Inc. has received regulatory approval to renew its normal course issuer bid (NCIB), allowing the company to repurchase up to 3,180,767 common shares, representing 5% of its issued shares, from August 19, 2025, to August 18, 2026 [1][2]. Group 1: NCIB Details - The NCIB allows Aecon to purchase common shares for cancellation, with a maximum of 3,180,767 shares, based on a total of 63,615,334 issued shares as of August 7, 2025 [2]. - The previous NCIB, which expires on August 18, 2025, allowed for the purchase of up to 3,126,306 shares, of which 267,700 shares were repurchased at a weighted average price of $19.2650 [3]. - Daily purchases under the NCIB will be limited to a maximum of 104,411 shares, which is 25% of the average daily trading volume over the past six months [4]. Group 2: Funding and Strategy - Aecon plans to fund the share repurchases using existing cash resources or its senior credit facility, viewing the repurchase as beneficial for shareholders [5]. - The actual number and timing of share purchases will be determined by Aecon's management, who may suspend or discontinue repurchases at any time [6]. Group 3: Automatic Securities Purchase Plan - Aecon has established an automatic securities purchase plan with a designated broker to facilitate share purchases during regulatory restrictions or trading black-out periods [7]. - The plan has been pre-cleared by the TSX and will be effective from August 19, 2025 [7]. Group 4: Company Overview - Aecon Group Inc. is a North American construction and infrastructure development company, providing integrated solutions across various sectors including Civil, Urban Transportation, Nuclear, Utility, and Industrial [8].
Baytex Announces Granting of Exemptive Relief Regarding Its Normal Course Issuer Bid Program
Newsfile· 2025-07-14 12:00
Core Viewpoint - Baytex Energy Corp. has received an exemption order from Canadian securities regulators allowing it to purchase up to 10% of its public float of common shares through U.S. trading systems as part of its shareholder return strategy, enhancing its current normal course issuer bid program [1][2]. Group 1: Exemptive Relief Details - The exemptive relief applies to the current normal course issuer bid and any future bids expiring on or before July 11, 2028, with conditions including compliance with U.S. rules and a purchase price not exceeding the market price at the time [2]. - The total number of common shares purchased by Baytex across all exchanges in a 12-month period cannot exceed 10% of the public float as specified in the notice accepted by the TSX [2]. Group 2: Company Overview - Baytex Energy Corp. is based in Calgary, Alberta, with additional offices in Houston, Texas, focusing on the acquisition, development, and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and the Eagle Ford in the U.S. [3]. - The company's common shares are traded on both the Toronto Stock Exchange and the New York Stock Exchange under the symbol BTE [3].
Fountain Asset Corp. Announces Normal Course Issuer Bid
Globenewswire· 2025-06-17 11:00
Core Viewpoint - Fountain Asset Corp. intends to initiate a normal course issuer bid to repurchase its subordinate voting shares, believing they are undervalued at current market prices [1][2]. Company Summary - Fountain Asset Corp. is a merchant bank that provides equity financing, bridge loan services, and strategic financial consulting across various industries, including marijuana, oil & gas, mining, real estate, manufacturing, retail, financial services, and biotechnology [3]. Issuer Bid Details - Upon receiving regulatory approval, Fountain plans to buy back up to 3,216,335 subordinate voting shares, which represents approximately 5% of its currently issued and outstanding shares, over a 12-month period from June 19, 2025, to June 18, 2026 [2]. - The repurchase price will be based on the market price at the time of acquisition, and the actual number and timing of purchases will be determined by the company [2]. - Canaccord Genuity Corp. has been retained to facilitate these purchases on behalf of Fountain [2].
Sun Life Announces Intended Renewal of Normal Course Issuer Bid
Prnewswire· 2025-05-08 21:03
Core Viewpoint - Sun Life Financial Inc. intends to renew its normal course issuer bid (NCIB) for share repurchases, pending approval from regulatory authorities [1][2]. Group 1: Normal Course Issuer Bid (NCIB) Details - The current NCIB, initiated on August 29, 2024, allows for the repurchase of up to 15,000,000 common shares, with 13,018,997 shares repurchased as of May 7, 2025 [2][5]. - Upon completion of the current NCIB, the company plans to establish a new NCIB (2025 NCIB) to repurchase an additional 10,000,000 common shares, subject to regulatory approvals [2][5]. - The 2025 NCIB will expire 12 months after its commencement or earlier if the company decides [2]. Group 2: Share Repurchase Mechanism - Purchases under the 2025 NCIB may occur through various trading platforms, including the TSX and NYSE, at prevailing market rates [3]. - The company may also engage in private agreements or share repurchase programs under exemption orders, typically at a discount to market prices [3]. - The actual number and timing of shares repurchased will be determined by the company [3]. Group 3: Pre-defined Plans and Compliance - The company may enter into pre-defined plans with brokers to facilitate share repurchases during internal trading blackout periods [4]. - Such plans will comply with applicable Canadian and U.S. securities laws [4]. Group 4: Financial Overview - As of May 7, 2025, the company had repurchased 13,018,997 shares at a weighted average price of approximately $80.79 per share [5]. - The total number of shares that can be repurchased under the 2025 NCIB will be adjusted to account for shares repurchased under the 2024 NCIB, allowing for a total of 25,000,000 shares, which represents about 4.1% of the total shares outstanding as of May 5, 2025 [5]. Group 5: Company Background - Sun Life is a prominent international financial services organization, offering asset management, wealth, insurance, and health solutions [9]. - As of March 31, 2025, the company had total assets under management of $1.55 trillion [9].