Extendicare Announces Renewal of Normal Course Issuer Bid

About this update from Extendicare Inc.

[{"type":"text","content":"Extendicare Announces Renewal of Normal Course Issuer Bid\n\n\n\n MARKHAM, Ontario, June 26, 2025 (GLOBE NEWSWIRE) -- Extendicare Inc. (“Extendicare” or the “Company”) (TSX: EXE) announced today that the Toronto Stock Exchange (the “TSX”) has approved the renewal of Extendicare’s normal course issuer bid (“NCIB”). Under the terms of the NCIB, the Company may purchase for cancellation up to 7,281,193 of its common shares (the “Common Shares”), representing 10% of its public float of issued and outstanding Common Shares. As at June 20, 2025, there were 83,817,909 Common Shares issued and outstanding and the public float was 72,811,939 Common Shares, calculated in accordance with the rules of the TSX.\n \n\n Purchases under the NCIB may commence on July 2, 2025 and continue until July 1, 2026, when the NCIB expires, or on such earlier date as the NCIB is complete. The actual number of Common Shares purchased under the NCIB and the timing of any such purchases will be at the Company’s discretion. Based on the average daily trading volume of 179,213 during the last six months, daily purchases will be limited to 44,803 Common Shares, other than block purchase exceptions.\n \n\n Purchases made by Extendicare will be made through the facilities of the TSX and/or through alternative Canadian trading systems, in accordance with TSX rules. Any Common Shares purchased by the Company under the NCIB will be cancelled.\n \n\n The Company’s board of directors has authorized the NCIB because it believes that, from time to time, the market price of the Common Shares may be such that their purchase may be an attractive and appropriate use of corporate funds. Decisions regarding the quantity and timing of purchases of Common Shares are based on market conditions, share price and the outlook for capital needs, including long-term care redevelopment needs and other factors.\n \n\n No Common Shares have been purchased under the Company’s prior NCIB that commenced on July 2, 2024 and expires on July 1, 2025, under which the Company was permitted to purchase up to 7,159,997 Common Shares.\n \n\n The Company has entered into an automatic purchase plan (“APP”) with its designated broker in connection with its NCIB to facilitate the purchase of C...

More updates from Extendicare Inc.