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Alithya renews its normal course issuer bid
Alithya renews its normal course issuer bid Canada NewsWire MONTREAL , ...
About this update from Alithya Group, Inc. Class A
[{"type":"text","content":"\n \n \n \n Alithya renews its normal course issuer bid\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n MONTREAL\n \n \n ,\n \n \n Sept. 13, 2023\n \n \n /CNW/ - Alithya Group inc. (TSX: ALYA) (NASDAQ: ALYA) (\"Alithya\" or the \"Company\"), a leader in strategy and digital transformation, is pleased to announce today that the Toronto Stock Exchange (the \"TSX\") has accepted the notice filed by the Company of its intention to renew its normal course issuer bid (\"NCIB\") program.\n \n \n \n \n \n \n \n \n \n The Company believes that the market price of its Class A subordinate voting shares (\"Class A Shares\") does not, from time to time, reflect its underlying value and undervalues its future growth prospects. The Company believes that, in such circumstances, the purchase for cancellation of such Class A Shares would be an appropriate use of the Company's available funds to enhance shareholder value.\n \n \n Under the NCIB, the Company will be allowed to purchase for cancellation on the open market through the facilities of the TSX, NASDAQ or alternative Canadian trading systems, if eligible, or outside the facilities of the TSX pursuant to exemption orders issued by securities regulatory authorities, up to 2,411,570 Class A Shares, representing 5% of the Company's public float (48,231,402 Class A Shares) based on a total of 88,481,257 issued and outstanding Class A Shares as of the close of markets on\n \n September 7, 2023\n \n . The amount of purchases on any given day will not exceed 6,791 Class A Shares, which represents 25% of the average daily trading volume on the TSX for the six-month ended August 31, 2023, being 27,166 Class A Shares, calculated in accordance with the rules of the TSX. All Class A Shares purchased under the NCIB will be cancelled.\n \n \n Purchases under the NCIB may commence on\n \n September 20, 2023\n \n and will end on the earlier of September 19, 2024 and the date on which the Company will have acquired the maximum number of Class A Shares allowable under...