Mr. Jason Mullins reports
GOEASY LTD. ANNOUNCES INCREASE TO NORMAL COURSE ISSUER BID
goeasy Ltd. has received acceptance by the Toronto Stock Exchange of an amendment to goeasy's current normal course issuer bid to increase the aggregate number of common shares that may be purchased thereunder from 555,000 common shares, being approximately 5 per cent of goeasy's public float as of Oct. 30, 2018, to 887,000 common shares, being approximately 8 per cent of goeasy's public float as of Oct. 30, 2018. Daily purchases will continue to be limited to 9,052 common shares, other than block purchase exemptions. The purchases will terminate on Nov. 12, 2019, or on such earlier date as goeasy may complete its purchases under this amended NCIB.
The NCIB will be conducted through the facilities of the TSX or alternative trading systems, if eligible, and will conform to their regulations. Purchases under the NCIB will be made by means of open market transaction or other such means as a security regulatory authority may permit, including prearranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority. The price that goeasy will pay for any common shares will be the market price of such shares at the time of acquisition, unless otherwise permitted under applicable rules. As of the date hereof, goeasy is not aware of or in possession of any material undisclosed information about itself, the common shares or any other of its securities.
As of Jan. 31, 2019, the company had purchased and cancelled 555,000 of its common shares on the open market under the NCIB at an average price of $38.35 per share for a total cost of $21.3-million.
The board of directors of goeasy has approved this amended NCIB and believes that the proposed purchases are in the best interests of the company and are a desirable use of corporate funds. All common shares purchased by goeasy pursuant to the NCIB will be cancelled.
About goeasy Ltd.
goeasy offers leasing and lending services in the alternative financial services market and provides everyday Canadians a path to a better tomorrow, today. goeasy serves its customers through two key operating divisions, easyfinancial and easyhome. easyfinancial is a non-prime consumer lending business that bridges the gap between traditional financial institutions and costly payday loans. easyhome is Canada's largest lease-to-own company, offering brand-name household furniture, appliances and electronics to consumers under weekly or monthly leasing agreements through both corporate and franchise stores.
© 2019 Canjex Publishing Ltd. All rights reserved.