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TMX Group Limited Normal Course Issuer Bid Approved
TMX Group Limited Normal Course Issuer Bid Approved Canada NewsWire TORONTO...
About this update from Tmx Group Ltd.
[{"type":"text","content":"\n \n \n \n TMX Group Limited Normal Course Issuer Bid Approved\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 TORONTO\n \n \n ,\n \n \n Feb. 24, 2023\n \n \n /CNW/ - TMX Group Limited (\"TMX Group\") announced today that its normal course issuer bid (\"NCIB\") has been accepted by Toronto Stock Exchange (\"TSX\").\n \n \n TMX Group intends to purchase up to 560,000 of its common shares by way of normal course purchases on Toronto Stock Exchange, representing approximately 1% of the 55,742,734 common shares outstanding on February 22, 2023. Based on the average daily trading volume of 98,075 common shares during the past six calendar months on TSX, daily purchases on TSX will be limited to 24,518 shares, other than block purchase exceptions. The purchases may commence on\n \n March 6, 2023\n \n , and will terminate on March 5, 2024, or on such earlier date as TMX Group completes its purchases.\n \n \n TMX Group will make purchases in accordance with TSX requirements and the price TMX Group will pay for any such common shares will be the market price of such shares at the time of acquisition. All purchases will be effected through the facilities of TSX.  All repurchased shares will be cancelled.\n \n \n TMX Group also entered into a pre-defined plan with its designated broker to allow for the repurchase of common shares at times when the TMX Group ordinarily would not be active in the market due to its own internal trading blackout periods, insider trading rules or otherwise.\n \n \n TMX Group believes that the purchase of common shares from time to time can be undertaken at prices that make the acquisition of such shares an appropriate use of available funds and an appropriate mechanism for returning capital to its shareholders.\n \n \n TMX Group has purchased 560,000 of its common shares for cancellation at a volume weighted average price of\n \n $132.76\n \n per common share under its NCIB which expired on\n \n December 19, 2022\n \n , which was the maximum number of shares available for repurchase under t...