05:11:31 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Integrated Asset Management Corp
Symbol IAM
Shares Issued 27,713,127
Close 2018-05-10 C$ 1.55
Market Cap C$ 42,955,347
Recent Sedar Documents

Integrated Asset to buy back up to 1.38 million shares

2018-05-11 11:13 ET - News Release

Mr. Tom Felkai reports

INTEGRATED ASSET MANAGEMENT CORP. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BID

The Toronto Stock Exchange has approved Integrated Asset Management Corp.'s notice of intention to renew its normal course issuer bid for the purchase for cancellation of certain of its common shares.

As at May 10, 2018, there were 27,713,127 issued and outstanding common shares of Integrated Asset Management. Under this renewal of the normal course issuer bid, Integrated Asset Management is permitted to purchase up to 1,385,656 common shares (representing 5 per cent of the issued and outstanding common shares) at prevailing market prices during the 12-month period commencing May 24, 2018, and ending May 23, 2019.

Except where reliance is placed on the TSX block purchase exemption, Integrated Asset Management may purchase up to 1,599 common shares on the TSX on any trading day, which represent 25 per cent of the average daily trading volume on the TSX of 6,398 shares for the most recently completed six calendar months prior to the date of the notice. Purchases will be executed through the facilities of the TSX and/or other alternative Canadian trading systems at prevailing market prices under the rules and policies of the TSX. All securities purchased by Integrated Asset Management under the normal course issuer bid will be cancelled.

Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which Integrated Asset Management sought and received approval from the TSX to purchase up to 1,397,715 common shares for the period of May 24, 2017, to May 23, 2018, Integrated Asset Management has purchased, as of May 10, 2018, 538,500 common shares on the open market at an average purchase price of $1.40 per share, which represented 1.9 per cent of the outstanding common shares at the commencement of the normal course issuer bid. On May 10, 2018, the common shares closed at $1.55.

Integrated Asset Management considers that these purchases, from time to time, at prevailing market prices, may provide liquidity for shareholders and be a worthwhile investment for both Integrated Asset Management and its shareholders.

Integrated Asset Management is one of Canada's leading alternative asset management companies with approximately $2.3-billion in assets and committed capital under management in real estate and private debt.

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