Black Diamond Group Renews Normal Course Issuer Bid
Black Diamond Group (BDI.TO) has obtained approval of the Toronto Stock Exchange (TSX) to renew its normal course issuer bid (NCIB) with respect to its common shares.The bid will start on May 12, and will cancel on the earlier of May 11, 2027, the date on which the company has purchased the maximum number of common shares permitted under the NCIB or the date on which the NCIB is cancelled. Under the NCIB, the company may buy back, through the facilities of the TSX or Canadian alternative trading systems, if eligible, up to 5.3-million common shares, about 10% of the public float of the common shares and about 7.6% of the 69.4-million issued and outstanding common shares as at April 30.The company also entered into an automatic share purchase plan with its designated broker to allow for common share buy-backs to be made at times when Black Diamond would not otherwise be able to, due either to regulatory restrictions or self-imposed blackout periods.Shares of the company closed down about 2% to $16.83 on Thursday on the TSX.
