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Medical Facilities Corporation Announces Amendment to Normal Course Issuer Bid
Medical Facilities Corporation Announces Amendment to Normal Course Issuer Bid ...
About this update from Medical Facilities Corporation
[{"type":"text","content":"\n \n \n \n Medical Facilities Corporation Announces Amendment to Normal Course Issuer Bid\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 TORONTO\n \n ,\n \n April 4, 2022\n \n /CNW/ - Medical Facilities Corporation (\"Medical Facilities\" or the \"Company\") (TSX: DR), announced today that the Toronto Stock Exchange has approved an amendment to its notice of intention to make a normal course issuer bid (\"NCIB\") effective as of\n \n April 7, 2022\n \n , which was originally announced on\n \n November 29, 2021\n \n and began on\n \n December 1\n \n , 2021.  The original NCIB provided for the repurchase by the Company of up to 1,555,312 of its outstanding common shares (\"Common Shares\"), representing 5% of the 31,106,259 Common Shares issued and outstanding as of\n \n November 15, 2021\n \n . Pursuant to the amendment the Company may repurchase up to 3,101,774 Common Shares representing 10% of its public float as of\n \n November 15, 2021\n \n .  The Company has repurchased 701,100 Common Shares since\n \n December 1, 2021\n \n .\n \n \n The Company may purchase the Common Shares at prevailing market prices during the period from December 1, 2021 to November 30, 2022 through the facilities of the Toronto Stock Exchange and/or alternative Canadian trading systems in accordance with applicable regulatory requirements. Purchases will be made at market prices in accordance with the rules and policies of the Toronto Stock Exchange. Subject to the Toronto Stock Exchange's block purchase exceptions, daily purchases will be limited to 18,641 Common Shares on any trading day, representing 25% of the average daily trading volume of 74,565 Common Shares for the six months preceding the commencement of the NCIB. All securities purchased by Medical Facilities under the normal course issuer bid will be cancelled. The Company did not repurchase any of its Common Shares under its prior normal course issuer bid for up to 621,144 Common Shares, which commenced on May 16, 2019 and expired on May 15,
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