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Descartes Announces TSX Acceptance of Normal Course Issuer Bid
WATERLOO, Ontario and ATLANTA, Ga., Dec. 09, 2025 (GLOBE NEWSWIRE) -- The Descartes Systems Group...
About this update from Descartes Systems Group Inc.
[{"type":"text","content":"Descartes Announces TSX Acceptance of Normal Course Issuer Bid\n\n\n\n WATERLOO, Ontario and ATLANTA, Ga., Dec. 09, 2025 (GLOBE NEWSWIRE) -- The Descartes Systems Group Inc. (TSX:DSG) (Nasdaq:DSGX) today announced that the Toronto Stock Exchange (the TSX) has accepted Descartes’ notice to launch a Normal Course Issuer Bid (the Bid).\n \n\n Under the Bid, Descartes may repurchase on the open market, at its discretion during the period commencing on December 11, 2025 and ending on the earlier of December 10, 2026 and the completion of purchases under the Bid, up to 8,568,582 common shares, representing approximately 10% of the \"public float\" (within the meaning of the rules of the TSX), subject to the normal terms and limitations of such bids.\n \n\n Under TSX rules, the average daily trading volume of the common shares on the TSX during the six months ended November 30, 2025 was approximately 204,706 and, accordingly, daily purchases on the TSX pursuant to the Bid will be limited to 51,176 common shares, other than purchases made pursuant to the block purchase exception. The actual number of common shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by the management of Descartes, subject to applicable laws and the rules of the TSX. In accordance with TSX rules, the maximum number of common shares which may be repurchased for cancellation under the Bid will be reduced by the number of common shares purchased by non-independent brokers for delivery pursuant to stock-based compensation plans.\n \n\n Purchases are expected to be made through the facilities of the TSX, Nasdaq, other designated exchanges and/or alternative Canadian trading systems, or by such other means as may be permitted by the Ontario Securities Commission or other applicable Canadian Securities Administrators, at prevailing market prices. The Bid will be funded using existing cash resources and any common shares repurchased by Descartes under the Bid will be cancelled.\n \n\n Descartes has also agreed to the form of an automatic share purchase plan (an ASPP) with a designated broker to allow for the purchase of common shares under the Bid at times when Descartes would ordinarily not be permitted to purchase shares due to regulatory restrictions or self-imposed blackout periods. The ASPP has been clear...