Toronto-based Home Capital Group Inc. has taken up 4,392,386 common shares at C$34.15 per share under its substantial issuer bid to repurchase for cancellation up to C$150 million of its shares.
The shares to be purchased under the offer represent about 7.66% of Home Capital Group's issued and outstanding shares prior to the take-up of the shares. After the repurchase, the number of issued and outstanding shares will be 52,953,160. None of the directors or management of the company tendered any of their shares pursuant to the offer.
A total of about 10.1 million
Payment for the purchased shares will be made through Home Capital Group's depositary, Computershare Investor Services Inc. The depositary will promptly return to shareholders any shares tendered and not purchased.
With the final results of the offer, Home Capital Group will now proceed with its intention to apply to the Toronto Stock Exchange for a renewal of its normal course issuer bid.