Business
K-BRO ANNOUNCES NORMAL COURSE ISSUER BID
K-Bro Linen Inc. ("K-Bro" or the "Corporation") today announces that the TSX has accepted its notice of intention to proceed with a normal course issuer bid.
About this update from K-bro Linen Inc.
(TSX: KBL) EDMONTON, AB, May 8, 2026 /CNW/ - K-Bro Linen Inc. ("K-Bro" or the "Corporation") today announces that the TSX has accepted its notice of intention to proceed with a normal course issuer bid. K-Bro's Board of Directors believes that a normal course issuer bid represents an appropriate and desirable use of its available liquidity to increase shareholder value and is in the best interests of K-Bro and its shareholders. Pursuant to the notice, K-Bro may purchase up to 1,229,584 of its common shares ("Shares") through the TSX and/or alternative Canadian trading systems, representing approximately 10% of the public float of 12,295,846 Shares as at April 30, 2026, during the twelve-month period commencing May 12, 2026 and ending May 11, 2027. As at April 30, 2026 there were 12,990,517 Shares issued and outstanding. Under the normal course issuer bid, other than purchases made under block purchase exemptions, K-Bro may purchase up to 5,341 Shares on the TSX during any trading day, which represents approximately 25% of 21,365 Shares, which represents the average daily trading volume on the TSX for the most recently completed six calendar months prior to the TSX's acceptance of the notice of the normal course issuer bid. Any Shares purchased under the normal course issuer bid will be cancelled. Although K-Bro intends to purchase Shares under its normal course issuer bid, there can be no assurances that any such purchases will be completed. Any purchases made under the normal course issuer bid will be made by K-Bro subject to favourable market conditions at the prevailing market price at the time of acquisition and through the facilities of the TSX. K-Bro intends to enter into an automatic purchase plan to be effective May 12, 2026 during the term of the normal course issuer bid. The automatic purchase plan will allow for purchases by K-Bro of Shares during certain pre-determined blackout periods. CORPORATE PROFILE K-Bro is the largest owner and operator of laundry and linen processing facilities in Canada and a national market leader for laundry and textile rental services in the U.K. K-Bro and its wholly-owned subsidiaries operate across Canada and the U.K., providing a range of linen services to healthcare institutions, hotels and other commercial accounts that include the processing, management and distribut...