Timbercreek Financial Corp. announces normal course issuer bid

About this update from Timbercreek Financial Corp.

[{"type":"text","content":"Timbercreek Financial Corp. announces normal course issuer bid\n\n\n\n TORONTO, June 10, 2025 (GLOBE NEWSWIRE) -- Timbercreek Financial Corp. (TSX: TF) (the \"\n \n Company\n \n \") announced today that it has obtained the approval of the Toronto Stock Exchange (the \"\n \n TSX\n \n \") to commence a normal course issuer bid (the “\n \n NCIB\n \n ”) with respect to its common shares (the “\n \n Shares\n \n ”). The NCIB will commence on June 12, 2025 and will terminate on the earlier of June 11, 2026 or the date on which the Company has purchased the maximum number of Shares permitted under the NCIB.\n \n\n Under the NCIB, the Company may, over a 12-month period commencing on June 12, 2025, purchase in the normal course through the facilities of the TSX in accordance with its rules or through alternative Canadian trading platforms up to a regulatory maximum of 8,191,740 Shares, such amount representing 10% of the public float of the Shares issued and outstanding as of May 31, 2025. Furthermore, subject to certain exemptions for block purchases, the maximum number of Shares that the Company may acquire on any one trading day is 52,161 Shares, such amount representing 25% of the average daily trading volume (“\n \n ADTV\n \n ”) of the Shares for the six calendar months prior to the start of the NCIB, being 208,647 Shares. As of May 31, 2025, there were 82,753,216 Shares issued and outstanding.\n \n\n Under the normal course issuer bid which commenced on June 12, 2024 and terminated on June 11, 2025 (the “\n \n 2024 NCIB\n \n ”), the Company was authorized to purchase up to 8,216,051 Shares and purchased 256,300 Shares on the open market at a volume weighted average price of $6.52. Purchases made under the 2024 NCIB were made either through the facilities of the TSX in accordance with its rules or through alternative Canadian trading platforms. All Shares purchased under the 2024 NCIB by the Company were cancelled.\n \n\n The price which the Company will pay for any Shares under the NCIB will be the market price at the time of acquisition. During the period of the NCIB, the Company may make purchases under the NCIB by means of open market transactions or otherwise as permitted by the TSX. All purchases under the NCIB will be purchased on the open market through the fa...

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