Melcor Developments Says Toronto Stock Exchange Approved Normal Course Issuer Bid
Melcor Developments (MRD.TO) said on Monday that the Toronto Stock Exchange accepted its notice of intention to make a normal course issuer bid through the facilities of the TSX and on alternative trading systems.Melcor may, during the twelve-month period starting June 10, 2026, and ending June 9, 2027, buy for cancellation up to 1.5-million common shares in total, being about 5% of its issued and outstanding common shares. The daily buy back restriction for the common shares is 2,030.The company also entered into an automatic repurchase plan agreement with a broker to allow for the purchase of common shares under the NCIB at times when it ordinarily would not be active in the market due to regulatory restrictions or self-imposed trading blackout periods.Shares of the company were last seen up 1.9% at $18.35 on the Toronto Stock Exchange.Price: $18.35, Change: $+0.35, Percent Change: +1.94%
