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CMG Announces Normal Course Issuer Bid
Globenewswireยท 2025-11-11 22:00
Core Viewpoint - Computer Modelling Group Ltd. ("CMG") has announced its intention to commence a Normal Course Issuer Bid ("NCIB") for its common shares, allowing for the purchase of up to 4,136,475 shares, representing 5% of the issued and outstanding shares as of November 3, 2025 [1][2][6] Group 1 - The NCIB will provide CMG with the flexibility to pursue both acquisition opportunities and share repurchases, aiming to enhance long-term shareholder value [2][6] - The company plans to purchase shares over a 12-month period starting November 14, 2025, with a daily purchase limit of 53,297 shares, based on the average daily trading volume [2][3] - All shares purchased under the NCIB will be cancelled, which is expected to increase the equity interest of remaining shareholders [3][6] Group 2 - CMG has entered into an automatic share purchase plan (ASPP) with a designated broker to facilitate share purchases during periods when the company would typically be restricted from buying shares [4][5] - The ASPP allows the designated broker to make purchases at its discretion based on parameters set by CMG prior to any blackout periods [5] - The board of directors believes that share repurchases may be a desirable use of corporate funds, as the market price may not fully reflect the underlying value of the company [6] Group 3 - CMG is a global software and consulting company focused on solving complex challenges in the new energy industry, with a presence in multiple international locations [7]