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Pason Announces Renewal of Normal Course Issuer Bid
Pason Announces Renewal of Normal Course Issuer Bid Canada NewsWire CALGARY...
About this update from Pason Systems Inc.
[{"type":"text","content":"\n \n \n \n Pason Announces Renewal of 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 CALGARY, AB\n \n \n ,\n \n \n Dec. 15, 2022\n \n \n /CNW/ - Pason Systems Inc. (TSX: PSI) (\"Pason\" or \"the Company\") is pleased to announce that the Toronto Stock Exchange (\"TSX\") has accepted Pason's Notice of Intention to commence a normal course issuer bid (\"2023 NCIB\"). The 2023 NCIB effectively renews the existing normal course issuer bid, which started on\n \n December 20, 2021\n \n and is scheduled to end on\n \n December 19, 2022\n \n (\"2022 NCIB\").  The 2023 NCIB will commence on\n \n December 20, 2022\n \n and will terminate on\n \n December 19, 2023\n \n or such earlier time as the 2023 NCIB is completed or terminated at the option of Pason.\n \n \n Under the 2022 NCIB, Pason had received approval from the TSX to purchase for cancellation up to a maximum of 7,131,543 common shares of Pason (\"Common Shares\"), representing approximately 10% of the public float of Common Shares outstanding at the time of approval. As of\n \n December 12, 2022\n \n , Pason had repurchased and cancelled 985,350 Common Shares under the 2022 NCIB through market purchases on the TSX and other Canadian alternative trading systems, at an average purchase price of approximately\n \n $13.95\n \n per share.\n \n \n Under the 2023 NCIB, Pason may purchase for cancellation, from time to time, as Pason considers advisable, up to a maximum of 8,105,263 Common Shares, which represents 10% of the public float of 81,052,633 Common Shares as at\n \n December 12, 2022\n \n . Purchases of Common Shares will be made on the open market through the facilities of the TSX and through Canadian alternative trading systems. Pason will pay the prevailing market price of the Common Shares on the TSX at the time of any purchases made by Pason. The actual number of Common Shares that may be purchased for cancellation and the timing of any such purchases will be determined by Pason, subject to a maximum daily purchase limitation of 54,996...