Stock Buybacks
By The Online Investor Staff, updated Mon., Nov. 29, 6:29 PM
| This Slide: #2 of 25 |
Slide #2. Medical Facilities Corporation
Company:
Medical Facilities Corporation (TSE:DR.CA)
Share Amount Authorized:
1,555,312
Buyback Details:
Medical Facilities Corporation ("Medical Facilities," "MFC" or the "Corporation") (TSX: DR), announced today that the Toronto Stock Exchange ("TSX") has approved its notice of intention to make a normal course issuer bid ("NCIB") for up to 1,555,312 of its outstanding common shares ("Common Shares"), representing 5% of the 31,106,259 Common Shares issued and outstanding as of November 15, 2021. The Corporation may purchase the Common Shares at prevailing market prices during the period from December 1, 2021, to November 30, 2022, through the facilities of the TSX and/or alternative Canadian trading systems in accordance with applicable regulatory requirements. Purchases will be made at market prices in accordance with the rules and policies of the TSX. Subject to the TSX's block purchase exceptions, daily purchases will be limited to 18,641 Common Shares on any trading day, representing 25% of the average daily trading volume of 74,565 Common Shares for the past six months. All securities purchased by Medical Facilities under the normal course issuer bid will be cancelled. The Corporation did not repurchase any of its Common Shares under its prior normal course issuer bid for up to 621,144 Common Shares, which commenced on May 16, 2019, and expired on May 15, 2020.
Medical Facilities through its wholly-owned subsidiaries, owns controlling interests in five specialty hospitals and seven ambulatory surgery centers (ASC). Each MFC Hospital is a licensed speciality surgical hospital which performs scheduled (as opposed to emergency) surgical, imaging and diagnostic procedures. The five MFC Hospitals are located in Arkansas, Indiana, Oklahoma, and South Dakota. The seven MFC Surgical Centers, located in California, Michigan, Missouri, Nebraska, Ohio, Oregon, and Pennsylvania, are licensed ASCs which perform "same day" scheduled (as opposed to emergency) outpatient surgical and diagnostic procedures. 
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