Core Viewpoint - Timbercreek Financial Corp. has received approval from the Toronto Stock Exchange to initiate a normal course issuer bid (NCIB) for its common shares, which will start on June 12, 2025, and end on June 11, 2026, or when the maximum number of shares is purchased [1]. Group 1: NCIB Details - The company may purchase up to 8,191,740 shares over a 12-month period, representing 10% of the public float as of May 31, 2025 [2]. - The maximum number of shares that can be acquired on any trading day is 52,161, which is 25% of the average daily trading volume of 208,647 shares for the six months prior to the NCIB [2]. - The previous NCIB, which ran from June 12, 2024, to June 11, 2025, allowed the purchase of up to 8,216,051 shares, of which 256,300 shares were bought at an average price of $6.52 [3]. Group 2: Purchase Mechanism - Shares will be purchased at the market price at the time of acquisition, either through open market transactions or as permitted by the TSX [4]. - All shares acquired under the NCIB will be cancelled [4]. - National Bank Financial will conduct the bid on behalf of the company [4]. Group 3: Strategic Rationale - The company believes that the market price of its shares may not accurately reflect their underlying value, making the repurchase an attractive investment opportunity [5]. - The share buyback is expected to benefit remaining shareholders by increasing their equity interest in the company's assets [5]. Group 4: Company Overview - Timbercreek Financial is a non-bank commercial real estate lender that provides structured financing solutions to commercial real estate investors, focusing on faster execution and flexible terms [6]. - The company employs thorough underwriting, active management, and strong governance to target strong risk-adjusted returns for investors [6].