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Pet Valu Holdings Ltd. Announces Normal Course Issuer Bid
Pet Valu Holdings Ltd. Announces Normal Course Issuer Bid Canada NewsWire M...
About this update from Pet Valu Holdings Ltd.
[{"type":"text","content":"\n \n \n \n Pet Valu Holdings Ltd. Announces 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 MARKHAM, ON\n \n \n ,\n \n \n Nov. 28, 2023\n \n \n /CNW/ - Pet Valu Holdings Ltd. (\"\n \n Pet Valu\n \n \" or the \"\n \n Company\n \n \") (TSX: PET), the leading Canadian specialty retailer of pet food and pet-related supplies, announced today the acceptance by the Toronto Stock Exchange (the \"\n \n TSX\n \n \") of the Company's notice of intention to launch a normal course issuer bid (the \"\n \n NCIB\n \n \"). Pursuant to the NCIB, the Company may purchase for cancellation up to an aggregate of 1,786,599 common shares in the capital of the Company (the \"\n \n Common Shares\n \n \"), representing approximately 2.5% of the Company's issued and outstanding Common Shares. As at\n \n November 16, 2023\n \n , the Company had 71,463,986 Common Shares issued and outstanding.\n \n \n \n \n \n \n \n \n \n Under the NCIB, the Company may purchase up to 36,971 of its Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 147,887 Common Shares on the TSX for the six months ended\n \n October 31, 2023\n \n . Purchases under the NCIB may commence on\n \n November 30, 2023\n \n and continue until the earliest of (a) the close of trading on\n \n November 29, 2024\n \n , (b) the date upon which Pet Valu acquires the maximum number of Common Shares to be purchased under the NCIB and (c) the date on which Pet Valu provides written notice of termination of the NCIB to the TSX.\n \n \n The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and the price that the Company will pay for any Common Shares will be the market price prevailing at the time of purchase or such other price as may be permitted. Purchases under the NCIB will be made by means of open market transactions or other such means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreemen...