Business
Chorus Announces Normal Course Issuer Bid
Chorus Aviation Inc. (TSX: CHR) ("Chorus") announced today that it has received approval from the Toronto Stock Exchange (the "TSX") respecting its Normal Course Issuer Bid ("NCIB" or the "bid"). Pursuant to the documentation filed with the TSX, Chorus may purchase for cancellation up to a maximum of 1,963,003 of its Class A Variable Voting Shares and/or Class B Voting Shares (collectively, the "Shares"), representing 10% of the public float of the Shares as of February 6, 2026, calculated in ac
About this update from Chorus Aviation Inc.
[{"type":"text","content":"HALIFAX, NS, Feb. 12, 2026 /CNW/ - Chorus Aviation Inc. (TSX: CHR) ("Chorus") announced today that it has received approval from the Toronto Stock Exchange (the "TSX") respecting its Normal Course Issuer Bid ("NCIB" or the "bid"). Pursuant to the documentation filed with the TSX, Chorus may purchase for cancellation up to a maximum of 1,963,003 of its Class A Variable Voting Shares and/or Class B Voting Shares (collectively, the "Shares"), representing 10% of the public float of the Shares as of February 6, 2026, calculated in accordance with TSX rules.","length":614,"tagName":"p"},{"type":"text","content":"The directors and management of Chorus believe that the purchase of Shares for cancellation during the period of the bid may be an appropriate and desirable use of Chorus' funds that is in the best interests of Chorus and beneficial to its shareholders. Chorus intends to make purchases on an opportunistic basis, taking Share price and other considerations into account.","length":375,"tagName":"p"},{"type":"text","content":"As of February 6, 2026, Chorus had 23,415,381 Shares issued and outstanding, of which 19,630,032 Shares constitute the total public float of the Shares. Purchases made pursuant to the bid will be made in the open market through the facilities of the TSX and/or alternative Canadian trading systems at the market price at the time of the purchases in accordance with the rules of the TSX and applicable securities laws. On any trading day, Chorus will not purchase more than 11,770 Shares, representing 25% of the average daily trading volume for the six months ended January 31, 2026 (being 47,080 Shares), except where such purchases are made in accordance with the block purchase exemptions under the TSX rules. Purchases under the renewed NCIB may commence on February 18, 2026 and will conclude on the earlier of the date on which Chorus has purchased the maximum number of Shares permitted under the NCIB and February 17, 2027.","length":932,"tagName":"p"},{"type":"text","content":"In connection with the renewal of the NCIB, Chorus will establish an automatic securities purchase plan (the "Plan") with its designated broker to allow for the purchase of Shares during trading blackout periods, subject to certain parameters such as price and number of ...