FirstService Corporation Buyback
OLI recorded this information on 8/24/2022
Company:
FirstService Corporation
Buyback:
FSV buyback
Share Amount Authorized:
1,600,000
Buyback Details:
FirstService Corporation (TSX and NASDAQ:FSV) ("FirstService") announced today that the Toronto Stock Exchange (the "TSX") has accepted a notice filed by FirstService of its intention to make a normal course issuer bid (the "NCIB") with respect to its outstanding common shares. The notice provides that FirstService may, during the 12 month period commencing August 26, 2022 and ending no later than August 25, 2023, purchase through the facilities of the TSX, alternative Canadian Trading Systems and/or The NASDAQ Stock Market ("NASDAQ") up to 1,600,000 common shares in total, being 4.2% of the "public float" of common shares as of August 12, 2022. The price which FirstService will pay for any common shares will be the market price at the time of acquisition. During the period of this NCIB, FirstService may make purchases under the NCIB by means of open market transactions or otherwise as permitted by the TSX and/or NASDAQ. In the event that FirstService acquires common shares by other means as may be permitted by the TSX and/or NASDAQ, such as pre-arranged crosses, exempt offers and private agreements, the purchase price of the common shares may be different than the market price of same at the time of acquisition. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of FirstService. The average daily trading volume from February 1 to July 31, 2022 was 94,238 common shares. Daily purchases under the NCIB will be limited to 23,559 common shares, other than block purchases. All shares purchased by FirstService under the NCIB will be cancelled.
FirstService is engaged in providing residential property management and other property services to residential and commercial customers. Co. conducts its business through two operating segments: FirstService Residential, which provides a range of ancillary services, including on-site staffing for building engineering and maintenance, swimming pool and amenity management, and security and concierge/front desk; and FirstService Brands, which operates and provides property services to residential and commercial customers and its principal brands include Paul Davis Restoration, Interstate Restoration, FirstOnSite Restoration, Century Fire Protection, and CertaPro Painters.
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Avg. Broker Rec.
 
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Buy (3.00 out of 4) 29th percentile
(ranked lower than approx. 71% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
