TORONTO, March 02, 2020 (GLOBE NEWSWIRE) -- Clairvest Group Inc. (TSX: CVG) today announced that the Toronto Stock Exchange has accepted a notice filed by Clairvest of its intention to make a new normal course issuer bid (“NCIB”). Clairvest’s current NCIB expires on March 6, 2020. The notice provides that the Corporation may, during the 12-month period commencing March 7, 2020 and ending March 6, 2021, purchase on The Toronto Stock Exchange up to 759,984 common shares in total, being approximately 5% of the outstanding common shares. The average daily trading volume for the six months ending February 28, 2020 was 651 common shares. Daily purchases will be limited to 1,000 common shares, other than block purchase exceptions. Any shares purchased will be cancelled. The price which the Corporation will pay for any such shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be determined by the Corporation. In total 3,591,532 common shares at a cost of approximately $41 million have been purchased under previous normal course issuer bids. The Corporation purchased 44,294 common shares on the Toronto Stock Exchange, out of an approved maximum repurchase amount of 760,747 under its current bid within the last twelve months at a weighted average price of $50.95 per share. There were 15,199,697 common shares of the Corporation outstanding on February 28, 2020.
Clairvest Announces New Normal Course Issuer Bid
Mar 03, 2020
Survey
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
Follow Us
Disclaimers