Exco Technologies Limited Announces Normal Course Issuer Bid
Exco Technologies has received TSX approval for a new Normal Course Issuer Bid (NCIB), allowing the company to repurchase up to 1,770,513 common shares (10% of public float) between February 20, 2025, and February 19, 2026. The company currently has 38,501,112 common shares outstanding as of February 12, 2025.
Purchases will be made through TSX and alternative Canadian trading systems at market rates, with a daily limit of 4,589 shares (25% of average daily trading volume). Under the previous NCIB, Exco purchased 356,400 shares at an average price of $7.63 per share.
The Board believes this initiative may enhance shareholder value when opportunities arise, as the market price might not always reflect the company's underlying value. Purchases will be funded through cash and/or bank facilities.
Exco Technologies ha ricevuto l'approvazione da parte della TSX per un nuovo Programma di Riacquisto di Azioni (NCIB), che consente all'azienda di riacquistare fino a 1.770.513 azioni ordinarie (10% del flottante pubblico) tra il 20 febbraio 2025 e il 19 febbraio 2026. Attualmente, l'azienda ha 38.501.112 azioni ordinarie in circolazione al 12 febbraio 2025.
Gli acquisti saranno effettuati tramite TSX e sistemi di trading alternativi canadesi a prezzi di mercato, con un limite giornaliero di 4.589 azioni (25% del volume medio di scambi giornalieri). Sotto il precedente NCIB, Exco ha acquistato 356.400 azioni a un prezzo medio di $7,63 per azione.
Il Consiglio ritiene che questa iniziativa possa aumentare il valore per gli azionisti quando si presentano opportunità, poiché il prezzo di mercato potrebbe non riflettere sempre il valore sottostante dell'azienda. Gli acquisti saranno finanziati attraverso liquidità e/o linee di credito bancarie.
Exco Technologies ha recibido la aprobación de la TSX para una nueva Oferta Normal de Adquisición (NCIB), que permite a la empresa recomprar hasta 1.770.513 acciones comunes (10% del flotante público) entre el 20 de febrero de 2025 y el 19 de febrero de 2026. Actualmente, la empresa tiene 38.501.112 acciones comunes en circulación a partir del 12 de febrero de 2025.
Las compras se realizarán a través de la TSX y sistemas de negociación alternativos canadienses a precios de mercado, con un límite diario de 4.589 acciones (25% del volumen de negociación diario promedio). Bajo la NCIB anterior, Exco adquirió 356.400 acciones a un precio promedio de $7,63 por acción.
La Junta cree que esta iniciativa puede aumentar el valor para los accionistas cuando surjan oportunidades, ya que el precio de mercado puede no reflejar siempre el valor subyacente de la empresa. Las compras se financiarán a través de efectivo y/o líneas de crédito bancarias.
Exco Technologies는 TSX의 승인을 받아 새로운 정상 매입 제안(NCIB)을 시작하게 되었으며, 이를 통해 회사는 1,770,513주 (공개 유통 주식의 10%)를 2025년 2월 20일부터 2026년 2월 19일 사이에 재매입할 수 있습니다. 현재 회사는 2025년 2월 12일 기준으로 38,501,112주의 보통주가 있습니다.
구매는 TSX 및 대체 캐나다 거래 시스템을 통해 시장 가격으로 이루어지며, 일일 한도는 4,589주(평균 일일 거래량의 25%)입니다. 이전 NCIB에 따라 Exco는 평균 주당 $7.63의 가격으로 356,400주를 매입했습니다.
이사회는 이 이니셔티브가 기회가 생길 때 주주 가치를 높일 수 있다고 믿고 있으며, 시장 가격이 항상 회사의 본질적인 가치를 반영하지 않을 수 있음을 지적했습니다. 구매는 현금 및/또는 은행 대출을 통해 자금을 조달할 것입니다.
Exco Technologies a obtenu l'approbation de la TSX pour une nouvelle Offre de Rachat Normal (NCIB), permettant à l'entreprise de racheter jusqu'à 1.770.513 actions ordinaires (10% du flottant public) entre le 20 février 2025 et le 19 février 2026. À ce jour, l'entreprise compte 38.501.112 actions ordinaires en circulation au 12 février 2025.
Les achats seront effectués via la TSX et des systèmes de négociation alternatifs canadiens à des prix de marché, avec une limite quotidienne de 4.589 actions (25% du volume moyen quotidien de transactions). Dans le cadre de la précédente NCIB, Exco a acheté 356.400 actions à un prix moyen de 7,63 $ par action.
Le Conseil d'administration estime que cette initiative pourrait accroître la valeur pour les actionnaires lorsque des opportunités se présentent, car le prix du marché ne reflète pas toujours la valeur sous-jacente de l'entreprise. Les achats seront financés par des liquidités et/ou des lignes de crédit bancaires.
Exco Technologies hat die Genehmigung der TSX für ein neues normales Rückkaufprogramm (NCIB) erhalten, das es dem Unternehmen ermöglicht, bis zu 1.770.513 Stammaktien (10% des öffentlichen Angebots) zwischen dem 20. Februar 2025 und dem 19. Februar 2026 zurückzukaufen. Das Unternehmen hat derzeit 38.501.112 Stammaktien, die am 12. Februar 2025 ausstehen.
Die Käufe werden über die TSX und alternative kanadische Handelssysteme zu Marktpreisen mit einem täglichen Limit von 4.589 Aktien (25% des durchschnittlichen täglichen Handelsvolumens) erfolgen. Im Rahmen des vorherigen NCIB erwarb Exco 356.400 Aktien zu einem durchschnittlichen Preis von 7,63 $ pro Aktie.
Der Vorstand ist der Ansicht, dass diese Initiative den Wert für die Aktionäre erhöhen kann, wenn sich Gelegenheiten bieten, da der Marktpreis möglicherweise nicht immer den zugrunde liegenden Wert des Unternehmens widerspiegelt. Die Käufe werden durch Barmittel und/oder Bankkredite finanziert.
- Company implementing share buyback program, potentially enhancing shareholder value
- Strong cash position allowing for share repurchases
- Previous successful buyback execution with 356,400 shares purchased
- Low daily trading volume (18,359 shares) limiting buyback execution speed
TORONTO, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Exco Technologies Limited (TSX: XTC) ("Exco" or the "Company") today announced that the Toronto Stock Exchange ("TSX") has approved the Company's normal course issuer bid ("NCIB"). Under the NCIB, Exco has the right to purchase for cancellation, from February 20, 2025 to February 19, 2026, a maximum of 1,770,513 common shares, representing
Any shares purchased by Exco under the NCIB will be effected through the facilities of TSX as well as on alternative Canadian trading systems, at prevailing market rates and any common shares purchased by the Company will be cancelled. The actual number of shares that may be purchased and the timing of any such purchases will be determined by Exco. Any purchases made by Exco pursuant to the NCIB will be made in accordance with the rules and policies of the TSX.
During the most recently-completed six months, the average daily trading volume for the common shares of Exco on the TSX was 18,359 shares. Consequently, under the policies of the TSX, Exco will have the right to repurchase under its NCIB, during any one trading day, a maximum of 4,589 shares, representing
Exco’s Board of Directors believes the underlying value of the Company may not be reflected in the market price of its common shares from time to time and that, at appropriate times, repurchasing its shares through the NCIB may represent a good use of Exco's financial resources, as such action can protect and enhance shareholder value when opportunities or volatility arise. Thus, the Board has determined that the NCIB is in the best interest of the Company and its shareholders.
Exco Technologies Limited is a global supplier of innovative technologies servicing the die-cast, extrusion and automotive industries. Through our 21 strategic locations in 9 countries, we employ approximately 5,000 people and service a diverse and broad customer base.
| Source: | Exco Technologies Limited (TSX-XTC) |
| Contact: | Darren Kirk, President and Chief Executive Officer |
| Telephone: | (905) 477-3065 ext. 7233 |
| Website: | https://www.excocorp.com |
FAQ
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