non‐voting exchangeable shares
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Partners Value Investments Inc. Announces Establishment of Normal Course Issuer Bid
Globenewswire· 2025-09-10 20:30
Core Viewpoint - Partners Value Investments Inc. has received approval to initiate a normal course issuer bid to repurchase up to 2,493,940 of its non-voting exchangeable shares, representing approximately 10% of the public float, effective from September 12, 2025, to September 11, 2026 [1][3]. Group 1: Bid Details - The issuer bid will be executed by RBC Capital Markets through various trading platforms in Canada, with purchases made at the market price at the time of acquisition [2]. - The total number of outstanding exchangeable shares as of September 10, 2025, is 27,870,970 [2]. - This marks the Corporation's first issuer bid for exchangeable shares, indicating a strategic move to utilize available funds for repurchasing its own securities [3]. Group 2: Automatic Purchase Plan - An automatic purchase plan has been established with RBC Capital Markets to facilitate share purchases during internal trading blackout periods and in compliance with applicable laws [4]. - Outside of blackout periods, share repurchases will be conducted at management's discretion [4]. Group 3: Market Value Consideration - The Corporation believes that the market price of its securities may not always reflect their true value, making the repurchase of outstanding securities a desirable use of funds [3].