Stock BuybacksBy The Online Investor Staff, updated Sat., Aug. 17, 10:32 AM
|This Slide: #3 of 25|
Slide #3. FirstService Corporation
FirstService Corporation (TSE:FSV.CA)
Share Amount Authorized:
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, 2019 and ending no later than August 25, 2020, purchase through the facilities of the TSX, alternative Canadian Trading Systems or The NASDAQ Stock Market ("NASDAQ") up to 2,500,000 common shares in total, being approximately 10% of the "public float" of common shares as of August 9, 2019. Purchases of common shares through NASDAQ will be made in the normal course and will not, during the 12 month period ending August 25, 2020 exceed, in the aggregate, 5% of the outstanding common shares as at the commencement of the NCIB. 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. 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, 2019 was 44,516 common shares. Daily purchases under the NCIB will be limited to 11,129 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 essential property services to residential and commercial customers. FirstService Residential is a full-service property manager and in many markets provides a full range of ancillary services. FirstService Brands provide a range of essential property services to residential and commercial customers in North America through franchise networks and company-owned locations.
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