Groupe Dynamite (GRGD.TO), a player in the fashion industry, on Wednesday announced the receipt of regulatory approval from the Toronto Stock Exchange of its notice of intention to renew its normal course issuer bid.
Under the NCIB, the company may buy back for cancellation, during the period starting on Apr. 17, 2026, and ending on the earlier of Apr. 16, 2027, and the date on which the company reaches the maximum purchases permitted under the NCIB, up to an aggregate of near 1.6-million subordinate voting shares, representing about 10% of its public float as at Apr. 3, 2026.
Groupe Dynamite will also enter into an automatic securities purchase plan with a designated broker on or about Apr. 17, whereby subordinate voting shares may be repurchased at times when such purchases would otherwise be prohibited pursuant to regulatory restrictions or self-imposed blackout periods.
As of Apr. 3, the company had 20.8-million subordinate voting shares issued and outstanding, and a public float of 15.7-million subordinate voting shares.
Shares of the company closed down 2% to $89.13 on Tuesday on the TSX.