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NFI Group Inc. Announces Renewal of Normal Course Issuer Bid
NFI Group Inc. Announces Renewal of Normal Course Issuer Bid Canada NewsWire WIN...
About this update from Nfi Group Inc.
[{"type":"text","content":"\n\n\n\nNFI Group Inc. Announces Renewal of 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\nWINNIPEG, June 12, 2019\n\n\n\nWINNIPEG, June 12, 2019 /CNW/ - (TSX:NFI) NFI Group Inc. (\"NFI\") today announced that the Toronto Stock Exchange (\"TSX\") has accepted a notice filed by NFI of its intention to renew its normal course issuer bid (\"NCIB\") for its common shares (the \"Shares\").  NFI believes that in the event the Shares trade in a price range that does not fully reflect their value, the acquisition of Shares may represent an attractive and desirable use of its funds.\n\n \n \n\n \nUnder the NCIB, the board of directors of NFI authorized the repurchase of up to 5,357,914 Shares, which represents 10% of the public float of Shares on June 4, 2019.  At the close of business on June 4, 2019, there were 62,335,706 Shares issued and outstanding.  Under the NCIB, NFI may purchase up to 82,742 Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 330,971 Shares on the TSX for the six months ended May 31, 2019.  Repurchases are authorized to commence on June 17, 2019 and will terminate on June 16, 2020, or earlier should NFI complete its repurchases prior to such date.  NFI Group is not required to purchase any or a particular number of Shares under the bid.\nAll purchases will be made through the facilities of the TSX and any alternative Canadian trading systems and all Shares acquired under the NCIB will be cancelled.  Repurchases will be subject to compliance with applicable Canadian securities laws.\nUnder the prior normal course issuer bid, which commenced on June 14, 2018 and ended on June 13, 2019, NFI sought the purchase of 5,549,465 Shares and purchased 2,306,275 Shares through open market purchases through the facilities of the TSX and alternative Canadian trading systems at a weighted average price paid per Share of C$40.70.\nAbout NFIWith over 8,900 team members operating from more than 50 facilities across ten countries, NFI is a leadi...