LFL Announces TSX Approval of Repurchase Programme for Common Shares
Leon's Furniture (TSX: LNF) has received TSX approval for a share repurchase program to buy back up to 3,403,405 common shares, representing 4.99% of its total 68,204,514 outstanding shares as of March 12, 2025.
The program will run from March 21, 2025 to March 20, 2026, with daily purchases to 5,495 shares based on the six-month average daily trading volume of 21,980 shares. Purchases will be executed through the TSX or alternative Canadian trading systems at market price.
The company will implement an automatic share purchase plan (ASPP) with National Bank Financial Inc. effective April 1, 2025, enabling share repurchases during blackout periods. Leon's management believes the current share price is very attractive and considers the buyback a prudent use of capital.
Leon's Furniture (TSX: LNF) ha ricevuto l'approvazione dalla TSX per un programma di riacquisto di azioni volto ad acquistare fino a 3.403.405 azioni ordinarie, che rappresentano il 4,99% delle sue 68.204.514 azioni in circolazione al 12 marzo 2025.
Il programma si svolgerà dal 21 marzo 2025 al 20 marzo 2026, con acquisti giornalieri fino a 5.495 azioni basati sul volume medio giornaliero di scambi degli ultimi sei mesi di 21.980 azioni. Gli acquisti saranno eseguiti attraverso la TSX o sistemi di trading alternativi canadesi al prezzo di mercato.
L'azienda implementerà un piano di acquisto automatico di azioni (ASPP) con National Bank Financial Inc. a partire dal 1 aprile 2025, consentendo il riacquisto di azioni durante i periodi di blackout. La direzione di Leon ritiene che l'attuale prezzo delle azioni sia molto attraente e considera il riacquisto un uso prudente del capitale.
Leon's Furniture (TSX: LNF) ha recibido la aprobación de la TSX para un programa de recompra de acciones para comprar hasta 3,403,405 acciones comunes, que representan el 4.99% de sus 68,204,514 acciones en circulación a partir del 12 de marzo de 2025.
El programa se llevará a cabo desde el 21 de marzo de 2025 hasta el 20 de marzo de 2026, con compras diarias de hasta 5,495 acciones, basadas en el volumen promedio diario de negociación de seis meses de 21,980 acciones. Las compras se ejecutarán a través de la TSX o sistemas de negociación canadienses alternativos al precio de mercado.
La compañía implementará un plan de compra automática de acciones (ASPP) con National Bank Financial Inc. efectivo a partir del 1 de abril de 2025, lo que permitirá las recompras de acciones durante los períodos de bloqueo. La dirección de Leon cree que el precio actual de las acciones es muy atractivo y considera que la recompra es un uso prudente del capital.
레온 가구 (TSX: LNF)는 2025년 3월 12일 기준으로 총 68,204,514주 중 4.99%에 해당하는 3,403,405주의 자사주 매입 프로그램에 대해 TSX의 승인을 받았습니다.
이 프로그램은 2025년 3월 21일부터 2026년 3월 20일까지 진행되며, 최근 6개월 평균 일일 거래량인 21,980주를 기준으로 하루 최대 5,495주를 매입할 수 있습니다. 매입은 TSX 또는 다른 캐나다 거래 시스템을 통해 시장 가격으로 실행됩니다.
회사는 2025년 4월 1일부터 National Bank Financial Inc.와 함께 자동주 매입 계획 (ASPP)을 시행하여 블랙아웃 기간 동안 주식 매입을 가능하게 합니다. 레온의 경영진은 현재 주가가 매우 매력적이라고 생각하며, 자사주 매입을 자본의 신중한 사용으로 간주합니다.
Leon's Furniture (TSX: LNF) a reçu l'approbation de la TSX pour un programme de rachat d'actions afin d'acheter jusqu'à 3 403 405 actions ordinaires, représentant 4,99 % de ses 68 204 514 actions en circulation au 12 mars 2025.
Le programme se déroulera du 21 mars 2025 au 20 mars 2026, avec des achats quotidiens allant jusqu'à 5 495 actions, basés sur le volume moyen quotidien de négociation des six derniers mois de 21 980 actions. Les achats seront exécutés via la TSX ou des systèmes de négociation canadiens alternatifs au prix du marché.
L'entreprise mettra en œuvre un plan d'achat automatique d'actions (ASPP) avec National Bank Financial Inc. à compter du 1er avril 2025, permettant des rachats d'actions pendant les périodes de blackout. La direction de Leon estime que le prix actuel des actions est très attractif et considère le rachat comme une utilisation prudente du capital.
Leon's Furniture (TSX: LNF) hat die Genehmigung der TSX für ein Aktienrückkaufprogramm erhalten, um bis zu 3.403.405 Stammaktien zurückzukaufen, was 4,99% der insgesamt 68.204.514 ausstehenden Aktien zum 12. März 2025 entspricht.
Das Programm läuft vom 21. März 2025 bis zum 20. März 2026, mit täglichen Käufen von bis zu 5.495 Aktien basierend auf dem sechsmonatigen durchschnittlichen täglichen Handelsvolumen von 21.980 Aktien. Die Käufe werden über die TSX oder alternative kanadische Handelssysteme zum Marktpreis ausgeführt.
Das Unternehmen wird ab dem 1. April 2025 einen automatischen Aktienrückkaufplan (ASPP) mit National Bank Financial Inc. umsetzen, der den Rückkauf von Aktien während der Blackout-Perioden ermöglicht. Das Management von Leon glaubt, dass der aktuelle Aktienkurs sehr attraktiv ist und hält den Rückkauf für eine umsichtige Verwendung von Kapital.
- Share buyback program indicates strong cash position and confidence in company value
- 4.99% reduction in outstanding shares could increase earnings per share
- ASPP implementation ensures consistent execution of buyback program
- Capital spent on buybacks reduces cash available for business operations or growth initiatives
Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Leon's Furniture Limited (TSX: LNF) ("Leon's" or the "Company"), today announced that it has received approval for a common share repurchase program on The Toronto Stock Exchange ("TSX"). The Company intends to repurchase for cancellation a maximum of 3,403,405 Common Shares representing
The bid will commence on March 21, 2025, and terminate on the earliest of the purchase of 3,403,405 Common Shares, the issuer providing a notice of termination, and March 20, 2026.
Purchases will be executed through the facilities of the Toronto Stock Exchange or alternative Canadian trading systems at market price under the normal course issuer bid rules of the Toronto Stock Exchange.
Leon's today also announced that it will be entering into an automatic share purchase plan ("ASPP") with its broker, National Bank Financial Inc. ("National Bank"), in order to facilitate repurchases of common shares under the NCIB effective April 1, 2025.
Under the ASPP for Leon's, National Bank may purchase common shares at times when Leon's ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by National Bank based upon parameters set by Leon's prior to the commencement of any such blackout period and in accordance with the terms of the ASPP.
We believe that the current price of our shares is very attractive and deem it to be a prudent use of our capital.
About Leon's Furniture Limited
Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside with Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 299 retail stores from coast to coast in Canada under various banners. The Company operates six websites: leons.ca, thebrick.com, furniture.ca, midnorthern.com, transglobalservice.com and appliancecanada.com.
For further information, please contact:
| Victor Diab Chief Financial Officer Leon's Furniture Limited Tel: (416) 243-4073 lflgroup.ca | Jonathan Ross LodeRock Advisors, Leon's Investor Relations jon.ross@loderockadvisors.com Tel: (416) 283-0178 |
SOURCE Leon's Furniture Limited
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245144
FAQ
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