Parkit Announces Normal Course Issuer Bid
Parkit Enterprise (TSXV: PKT) has received conditional approval from the TSX Venture Exchange to renew its Normal Course Issuer Bid (NCIB). The new NCIB program will allow Parkit to purchase and cancel up to 11,088,361 common shares, representing 5% of outstanding shares, between March 28, 2025, and March 27, 2026.
The share purchases will be executed through TSX Venture Exchange or alternative trading systems, with National Bank Financial Inc. serving as the agent. Purchase prices will align with prevailing market rates, funded through available cash. Under the previous NCIB program ending March 27, 2025, Parkit acquired 5,819,130 common shares out of the authorized 11,394,158 shares.
The Board believes the current market price may not reflect the shares' underlying value and views the NCIB as an appropriate use of funds to create shareholder value.
Parkit Enterprise (TSXV: PKT) ha ricevuto l'approvazione condizionata dalla TSX Venture Exchange per rinnovare il suo Normal Course Issuer Bid (NCIB). Il nuovo programma NCIB consentirà a Parkit di acquistare e annullare fino a 11.088.361 azioni ordinarie, che rappresentano il 5% delle azioni in circolazione, tra il 28 marzo 2025 e il 27 marzo 2026.
Gli acquisti di azioni saranno eseguiti attraverso la TSX Venture Exchange o sistemi di trading alternativi, con National Bank Financial Inc. che fungerà da agente. I prezzi di acquisto saranno allineati con le tariffe di mercato prevalenti, finanziati attraverso liquidità disponibile. Sotto il precedente programma NCIB che terminerà il 27 marzo 2025, Parkit ha acquisito 5.819.130 azioni ordinarie su un totale autorizzato di 11.394.158 azioni.
Il Consiglio ritiene che il prezzo di mercato attuale potrebbe non riflettere il valore sottostante delle azioni e considera il NCIB un uso appropriato dei fondi per creare valore per gli azionisti.
Parkit Enterprise (TSXV: PKT) ha recibido la aprobación condicional de la TSX Venture Exchange para renovar su Normal Course Issuer Bid (NCIB). El nuevo programa NCIB permitirá a Parkit comprar y cancelar hasta 11.088.361 acciones ordinarias, que representan el 5% de las acciones en circulación, entre el 28 de marzo de 2025 y el 27 de marzo de 2026.
Las compras de acciones se llevarán a cabo a través de la TSX Venture Exchange o sistemas de negociación alternativos, con National Bank Financial Inc. actuando como agente. Los precios de compra se alinearán con las tarifas de mercado vigentes, financiados a través de efectivo disponible. Bajo el programa NCIB anterior que finaliza el 27 de marzo de 2025, Parkit adquirió 5.819.130 acciones ordinarias de un total autorizado de 11.394.158 acciones.
La Junta cree que el precio de mercado actual puede no reflejar el valor subyacente de las acciones y considera que el NCIB es un uso apropiado de los fondos para crear valor para los accionistas.
Parkit Enterprise (TSXV: PKT)는 TSX 벤처 거래소로부터 정상적인 발행자 매입(NCIB)을 갱신하기 위한 조건부 승인을 받았습니다. 새로운 NCIB 프로그램은 Parkit이 2025년 3월 28일부터 2026년 3월 27일까지 11,088,361 주식을 구매하고 취소할 수 있게 해줍니다. 이는 발행 주식의 5%에 해당합니다.
주식 구매는 TSX 벤처 거래소 또는 대체 거래 시스템을 통해 이루어지며, National Bank Financial Inc.가 대리인으로 활동합니다. 구매 가격은 현재 시장 요율에 맞춰 조정되며, 사용 가능한 현금으로 자금이 조달됩니다. 2025년 3월 27일에 종료되는 이전 NCIB 프로그램 하에서 Parkit은 승인된 11,394,158 주식 중 5,819,130 주식을 취득했습니다.
이사회는 현재 시장 가격이 주식의 기본 가치를 반영하지 않을 수 있다고 생각하며, NCIB를 주주 가치를 창출하기 위한 적절한 자금 사용으로 보고 있습니다.
Parkit Enterprise (TSXV: PKT) a reçu l'approbation conditionnelle de la TSX Venture Exchange pour renouveler son Normal Course Issuer Bid (NCIB). Le nouveau programme NCIB permettra à Parkit d'acheter et d'annuler jusqu'à 11.088.361 actions ordinaires, représentant 5 % des actions en circulation, entre le 28 mars 2025 et le 27 mars 2026.
Les achats d'actions seront effectués par l'intermédiaire de la TSX Venture Exchange ou de systèmes de négociation alternatifs, avec National Bank Financial Inc. agissant en tant qu'agent. Les prix d'achat seront alignés sur les tarifs du marché en vigueur, financés par des liquidités disponibles. Dans le cadre de l'ancien programme NCIB se terminant le 27 mars 2025, Parkit a acquis 5.819.130 actions ordinaires sur un total autorisé de 11.394.158 actions.
Le Conseil estime que le prix du marché actuel peut ne pas refléter la valeur sous-jacente des actions et considère le NCIB comme une utilisation appropriée des fonds pour créer de la valeur pour les actionnaires.
Parkit Enterprise (TSXV: PKT) hat von der TSX Venture Exchange die bedingte Genehmigung erhalten, sein Normal Course Issuer Bid (NCIB) zu erneuern. Das neue NCIB-Programm ermöglicht es Parkit, bis zu 11.088.361 Stammaktien zu kaufen und zu annullieren, was 5 % der ausstehenden Aktien entspricht, zwischen dem 28. März 2025 und dem 27. März 2026.
Die Aktienkäufe werden über die TSX Venture Exchange oder alternative Handelssysteme durchgeführt, wobei National Bank Financial Inc. als Agent fungiert. Die Kaufpreise werden den aktuellen Marktpreisen entsprechen und aus verfügbaren Mitteln finanziert. Im Rahmen des vorherigen NCIB-Programms, das am 27. März 2025 endet, erwarb Parkit 5.819.130 Stammaktien von den genehmigten 11.394.158 Aktien.
Der Vorstand ist der Ansicht, dass der aktuelle Marktpreis möglicherweise nicht den zugrunde liegenden Wert der Aktien widerspiegelt und sieht das NCIB als angemessene Verwendung der Mittel zur Schaffung von Aktionärswert an.
- Board authorized share buyback program to create shareholder value
- Company has sufficient cash to fund share repurchases
- Successfully executed previous NCIB with 5.8M shares purchased
- Board believes current share price undervalues the company
Toronto, Ontario--(Newsfile Corp. - March 20, 2025) - PARKIT ENTERPRISE INC. (TSXV: PKT) ("Parkit" or the "Corporation") is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange to renew its Normal Course Issuer Bid ("NCIB") to purchase for cancellation, during the 12-month period starting March 28, 2025, up to 11,088,361 of the outstanding common shares of the Corporation (the "Common Shares"), representing
The purchase and payment for the Common Shares will be made by Parkit through the facilities of the TSX Venture Exchange or alternative trading systems. National Bank Financial Inc. has been selected as Parkit's agent for the NCIB. The price paid for the Common Shares will be, subject to NCIB pricing rules contained in securities laws, the prevailing market price of such Common Shares on the TSX Venture Exchange at the time of such purchase. Parkit intends to fund the purchases out of available cash.
Parkit believes that the market price of its Common Shares may not reflect their underlying value and the Board of Directors has authorized this initiative because, in the Board's opinion, the proposed purchase of Common Shares pursuant to the NCIB constitutes an appropriate use of Parkit's funds, and the repurchase of its Common Shares is one way of creating shareholder value.
To the knowledge of Parkit, no director, senior officer or other insider of the Parkit currently intends to sell any Common Shares under the NCIB. However, sales by such persons through the facilities of the TSX Venture Exchange may occur if the personal circumstances of any such person changes or any such person makes a decision unrelated to these NCIB purchases. The benefits to any such person whose Common Shares are purchased would be the same as the benefits available to all other holders whose Common Shares are purchased.
Parkit conducted a previous NCIB for up to 11,394,158 Common Shares, through the facilities of the TSX Venture Exchange and alternative trading systems, which NCIB will end on March 27, 2025. Pursuant to the previous NCIB, up to March 17, 2025, Parkit purchased an aggregate of 5,819,130 Common Shares.
About Parkit Enterprise Inc.
Parkit Enterprise is an industrial real estate platform focused on the acquisition, growth and management of strategically located industrial properties across key urban markets in Canada. In addition, Parkit has parking assets across various markets in the United States of America. Parkit's Common Shares are listed on TSX-V (Symbol: PKT).
For more information, please contact Mr. Carey Chow, Mr. Iqbal Khan or Mr. Steven Scott:
Investor Relations
Contact Number: 1-888-627-9881
Email: ir@parkitenterprise.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information regarding: the NCIB, including the purchase of Common Shares under the NCIB, the amount of Common Shares that are potentially purchased and the commencement and end date of the NCIB. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects Parkit's current beliefs and is based on information currently available to Parkit and on assumptions Parkit believes are reasonable. These assumptions include, but are not limited to: the underlying value of Parkit and its Common Shares; the ability of Parkit to complete purchases under the NCIB and final TSX Venture Exchange acceptance of the NCIB; the level of activity in the industrial real estate industry and the economy generally; competition and Parkit's competitive advantages; trends in the industrial real estate industry; the availability of attractive and financially competitive acquisitions in the future; and the potential closing of previously announced acquisitions, if any, continuing to proceed as they have progressed to date. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Parkit to be materially different from those expressed or implied by such forward-looking information. Such risks, uncertainties and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; the actual results of Parkit's future operations; competition; changes in legislation, including environmental legislation, affecting Parkit; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in Parkit's disclosure documents on the SEDAR+ website at www.sedarplus.ca. Although Parkit has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of risks, uncertainties and factors is not exhaustive. Accordingly, readers should not place undue reliance on forward-looking information. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of Parkit as of the date of this news release and, accordingly, is subject to change after such date. However, Parkit expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/245436
FAQ
How many shares can Parkit (PKTEF) repurchase under the new NCIB program?
When does Parkit's (PKTEF) new share buyback program start and end?
How many shares did Parkit (PKTEF) purchase under its previous NCIB program?
Who is the executing agent for Parkit's (PKTEF) share buyback program?
How will Parkit (PKTEF) fund the share repurchase program?
