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GFL Environmental Inc. Authorizes Share Repurchase Program
GFL Environmental Inc. Authorizes Share Repurchase Program Canada NewsWire ...
About this update from Gfl Environmental Inc
[{"type":"text","content":"\n \n \n \n GFL Environmental Inc. Authorizes Share Repurchase Program\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n VAUGHAN, ON\n \n \n ,\n \n \n May 10, 2022\n \n \n /CNW/ - GFL Environmental Inc. (NYSE: GFL) (TSX: GFL) (\"GFL\" or the \"Company\") today announced that the Toronto Stock Exchange (\"TSX\") has accepted the Company's notice of intention to implement a normal course issuer bid (the \"NCIB\") during the 12-month period commencing on\n \n May 12, 2022\n \n and ending no later than\n \n May 11, 2023\n \n . The NCIB will be conducted through the facilities of the TSX and the New York Stock Exchange (\"NYSE\") or alternative Canadian trading systems, if eligible.\n \n \n \n \n \n \n \n \n \n On\n \n May 6, 2022\n \n , GFL had 330,213,882 subordinate voting shares issued and outstanding. Under the NCIB, a maximum of 16,510,694 subordinate voting shares (representing 5% of the issued and outstanding shares) may be repurchased by GFL. All subordinate voting shares repurchased by GFL under the NCIB will be cancelled.\n \n \n \"We believe that the market price of our shares does not, from time to time, reflect the underlying value of our business and growth prospects,\" said\n \n Patrick Dovigi\n \n , Founder and Chief Executive Officer of GFL. \"While our capital allocation plans do not contemplate share repurchases, in the right conditions, we believe that the repurchase of our shares under a share buyback program could be opportunistic and an appropriate and desirable use of our available cash.\" Mr. Dovigi concluded, \"The decision to repurchase any of our shares will be measured against our other organic and inorganic growth opportunities and leverage guidelines and our overall objective of creating long-term value for all of our stakeholders.\"\n \n \n Purchases under the NCIB will be made by means of open market transactions, including through an automatic share purchase plan, privately negotiated transactions or such other means as a securities regulatory authority may permit. In accordance with TSX rul...