The Toronto Stock Exchange has accepted goeasy Ltd.'s notice of intention to make a normal course issuer bid to buy back up to 1,038,269 common shares.
The potential shares to be repurchased represent approximately 10% of the company's public float as of Dec. 9. The bid will commence Dec. 20, 2019, and will end Dec. 19, 2020. The company may also elect to terminate the bid earlier.
Daily purchases will be limited to 9,020 common shares, or 25% of the average daily trading volume, other than block purchase exemptions. Any shares purchased under the bid will be canceled.
The company also entered into an issuer automatic purchase plan agreement in respect of the normal course issuer bid.
Cormark Securities Inc. has been appointed to serve as the broker firm responsible for making purchases under the plan.