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National Bank of Canada confirms new normal course issuer bid
National Bank of Canada confirms new normal course issuer bid Canada NewsWire ...
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[{"type":"text","content":"\n \n \n \n National Bank of Canada confirms new 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 \n MONTREAL\n \n \n ,\n \n \n Dec. 8, 2022\n \n \n /CNW Telbec/ - National Bank of\n \n Canada\n \n (the \"Bank\") (TSX: NA) today announced that the Toronto Stock Exchange (the \"TSX\") and the Office of the Superintendent of Financial Institutions (\"OSFI\") have approved the Bank's new normal course issuer bid to purchase for cancellation up to 7,000,000 of its common shares, representing approximately 2.1% of its 336,736,305 issued and outstanding common shares as at\n \n November 28, 2022\n \n .\n \n \n The normal course issuer bid will be effective on December 12, 2022 and will end at the latest on December 11, 2023. It will provide the Bank with additional flexibility to manage capital and generate value for shareholders.\n \n \n The purchases will be made through the facilities of the TSX and/or any alternative trading systems in\n \n Canada\n \n . The Bank will pay the market price for the common shares at the time of acquisition and the purchases will be made in accordance with applicable regulatory requirements. Common shares may also be repurchased through other means permitted by applicable securities laws, including by private agreements or share repurchase programs pursuant to issuer bid exemption orders issued by securities regulatory authorities. Any private purchase made under an exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price.\n \n \n National Bank Financial Inc. has been retained to act as the designated broker to repurchase Bank's shares pursuant to the normal course issuer bid. The Bank could periodically establish automatic share purchase programs and define a prearranged set of criteria.\n \n \n The actual number of common shares which may be purchased, and the timing of any such purchases, will be determined by the Bank. The common shares acquired will be cancelled.\n \n \n According to TSX's requirements, th...