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MTY Food Group Inc. announces normal course issuer bid
MTY Food Group Inc. announces normal course issuer bid Canada NewsWire MONTREAL,...
About this update from Mty Food Group Inc.
[{"type":"text","content":"\n\n\n\nMTY Food Group Inc. announces normal course issuer bid\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\nCanada NewsWire\nMONTREAL, June 27, 2018\n\n\n\nMONTREAL, June 27, 2018 /CNW Telbec/ - MTY Food Group Inc. (\"MTY\" or the \"Company\") (TSX: MTY), franchisor and operator of multiple concepts of restaurants, has been informed that the Toronto Stock Exchange (\"TSX\") has accepted MTY's notice of intention to make a normal course issuer bid to purchase some of its common shares for cancellation.\n\nUnder the normal course issuer bid, MTY may purchase up to 1,258,024 common shares during the period starting July 3, 2018 and ending July 2, 2019, representing approximately 5% of the outstanding common shares, as at June 21, 2018. MTY will make any purchases through the facilities of the TSX or alternative trading systems in Canada at the prevailing market prices.  \n\nThe average daily trading volume for the common shares on the TSX during the six-month period ended May 31, 2018 was 47,508 common shares. As a result, under the TSX's rules, MTY may purchase a maximum of 11,877 common shares (being 25% of the average daily trading volume) on any one day, except pursuant to permitted block purchase exception. The actual number of common shares to be purchased and the timing of any such purchases will generally be determined by MTY from time to time as market conditions warrant. In addition, MTY may from time to time repurchase common shares under an automatic securities purchase plan it has established with its broker, which will enable purchases during times when MTY would typically not be permitted to purchase its shares due to regulatory or other reasons.\n\nThe Board of Directors and senior management of MTY are of the opinion that from time to time the purchase of common shares at prevailing market prices is a worthwhile capital allocation strategy and is in the best interest of MTY's shareholders.\n\nAll repurchased shares will be cancelled. MTY has not purchased any common shares in the past 12 months through a normal course issuer bid.\n\nCert...