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Enerflex Ltd. Announces Normal Course Issuer Bid
CALGARY, Alberta, March 19, 2025 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) ( ...
About this update from Enerflex Ltd.
[{"type":"text","content":"Enerflex Ltd. Announces Normal Course Issuer Bid\n\n\n\n CALGARY, Alberta, March 19, 2025 (GLOBE NEWSWIRE) -- Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or the “Company”) today announced Board approval to implement a Normal Course Issuer Bid (“NCIB”).\n \n\n The Company intends to make an application to the Toronto Stock Exchange (“TSX”) to implement a NCIB that would permit the Company to purchase for cancellation, through the facilities of the TSX, alternative Canadian trading systems or the New York Stock Exchange, common shares representing up to 5% of the public float over a period of twelve months. The NCIB is subject to acceptance by the TSX and will be conducted in accordance with the rules and policies of the TSX and applicable securities laws.\n \n\n Preet Dhindsa, Enerflex’s  Interim CEO stated, “With the Company operating within its target leverage range, Enerflex is positioned to increase direct shareholder returns. This is reflected through: (1) the previously announced 50% increase of the Company’s quarterly dividend; and (2) today’s announcement of the Company’s intention to implement a NCIB.”\n \n\n Enerflex believes that: (1) the repurchase of common shares would be an effective use of its cash resources and in the best interests of Enerflex and its shareholders; and (2) the current market price of its common shares does not fully reflect their underlying value.\n \n\n Further details regarding the NCIB will be provided following TSX approval.\n \n\n\n ADVISORY REGARDING FORWARD-LOOKING INFORMATION\n \n\n\n This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws and “forward-looking statements” (and together with “forward-looking information”, “FLI”) within the meaning of the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are FLI. The use of any of the words “intend”, “will”, “may”, and similar expressions, are intended to identify FLI. In particular, this news release includes (without limitation) FLI and statements pertaining to the Company’s intenti...