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Quarterhill Announces TSX Acceptance of Normal Course Issuer Bid
Quarterhill Announces TSX Acceptance of Normal Course Issuer Bid Canada NewsWire ...
About this update from Quarterhill Inc
[{"type":"text","content":"\n\n\n\nQuarterhill Announces TSX Acceptance 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\nKITCHENER, ON, Aug. 6, 2020\n\n\n\nKITCHENER, ON, Aug. 6, 2020 /CNW/ - Quarterhill Inc. (\"Quarterhill\") (TSX: QTRH) (OTCQX: QTRHF), today announced that the Toronto Stock Exchange (the \"TSX\") had accepted its Notice of Intention to Make a Normal Course Issuer Bid (the \"Notice\"). Pursuant to the Notice, Quarterhill may purchase for cancellation up to 11,303,777 issued and outstanding Quarterhill common shares (\"Common Shares\") representing approximately 10% of the 113,037,776 Common Shares in the public float as of July 31, 2020 through the facilities of the TSX and/or alternative Canadian trading systems. \nThe Normal Course Issuer Bid is expected to commence on August 10, 2020 and will expire on August 9, 2021.\nAs of July 31, 2020, the total number of issued and outstanding Common Shares was 116,177,352.  The average daily trading volume for the six months ending on July 31, 2020 was 268,969 Common Shares.  Daily purchases under the Normal Course Issuer Bid will be limited to 67,242 Common Shares, other than block purchase exceptions, being 25% of the average daily trading volume. Quarterhill and its broker have entered into an automatic securities purchase plan with respect to this Normal Course Issuer Bid (the \"Plan\") and purchases under the Normal Course Issuer Bid may continue under the Plan during Quarterhill's blackout periods.\nQuarterhill and its Board of Directors believe that the Common Shares may, from time to time, trade in a price range that does not fully reflect their underlying value. Accordingly, the acquisition of Common Shares under the Normal Course Issuer Bid during such times may represent an attractive investment and a desirable use of Quarterhill's available funds and would permit Quarterhill to reduce its total number of issued and outstanding Common Shares, thereby benefiting all shareholders by increasing their relative equity interests in Quarterhill.\nThe actual number of C...