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Exchange Income Corporation Announces Renewal of Normal Course Issuer Bid for Common Shares and Debentures
Exchange Income Corporation (“ EIC ” or the “ Corporation ”) ...
About this update from Exchange Income Corporation
[{"type":"text","content":"Exchange Income Corporation Announces Renewal of Normal Course Issuer Bid for Common Shares and Debentures\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwuline { text-decoration: underline }\n \n\n\n\n Exchange Income Corporation (“\n \n EIC\n \n ” or the “\n \n Corporation\n \n ”) (TSX: EIF) today announced that the Toronto Stock Exchange (“\n \n TSX\n \n ”) has approved the renewal of EIC’s normal course issuer bid for the common shares of EIC trading as the symbol “EIF” (“\n \n Common Shares\n \n ”) and certain series of debentures of EIC (collectively, the “\n \n NCIB\n \n ”). Pursuant to the NCIB, EIC can purchase up to an aggregate of 4,811,929 Common Shares; $14,373,200 principal amount of 7 year 5.25% convertible unsecured subordinated debentures of EIC trading as the symbol “EIF.DB.L” (“\n \n Debentures (July 2021)\n \n ”); and $11,500,000 principal amount of 7 year 5.25% convertible unsecured subordinated debentures of EIC trading as the symbol “EIF.DB.M” (“\n \n Debentures (December 2021)\n \n ”) (collectively, the “\n \n Securities\n \n ”), representing 10% of the public float of each series of Securities as at March 26, 2025.\n \n\n Purchases of Securities pursuant the NCIB may be made through the facilities of the TSX commencing on March 31, 2025 and ending on March 30, 2026, or an earlier date in the event that EIC purchases the maximum number of each of the Securities available under the NCIB. EIC will pay the market price at the time of acquisition for any Securities purchased through the facilities of the TSX. All Securities acquired directly by EIC under the NCIB will be cancelled.\n \n\n As at March 26, 2025, there were 51,323,387 Common Shares, $143,732,000 principal amount of Debentures (July 2021), and $115,000,000 principal amount of Debentures (December 2021) issued and outstanding.\n \n\n The average daily trading volume of the Securities for the six month period ended February 28, 2025 was 104,730 Common Shares; $105,943 principal amount of Debentures (July 2021); and $101,225 principal amount of Debentures (December 2021).\n \n\n Daily purchases will be limited to 26,182 Common Shares; $26,000 principal amount of Deben...