Mining & Metals
Enghouse Moves To Buy Back Up To a Maximum of 3 Million Shares
Enghouse Systems Limited (ENGH.TO) intends to renew a normal course issuer bid for its common shares in accordance with requirements of the Toronto Stock Exchange, the company said Monday.Enghouse in a statement said while it continues to have "significant" cash reserves and "positive" cash flow, it is renewing its normal course issuer bid program because it believes that "from time to time" the market price of its common shares "may be attractive" and that at such times, the purchase of common shares would be in the best interest of the company and an appropriate use of corporate funds.The company may purchase up to a maximum of 3 million common shares representing on April 23, 2026 approximately 7.1% of the publicly listed float of 42,326,459 common shares, it said.Enghouse said on April 23, 2026, it had 54,386,859 outstanding common shares. It added the price at which the company may purchase such shares will be the market price at the time of acquisition and any common shares purchased under the bid will be cancelled. The actual number of common Shares that may be purchased and the timing of any such purchases will be determined by the company, subject to price, trading volume and other market considerations.Daily purchases, other than block purchases, will be limited to 62,060 common shares which is 25% of 248,243 common shares (being the average daily trading volume on the TSX for the six months ended March 31, 2026), it said. An automatic purchase plan will not be put in place at the commencement of the bid but may be put in place at some point in the future, it added.The bid will commence on May 7, 2026 and will terminate on May 6, 2027, unless the maximum number of shares that may be purchased thereunder has been acquired before that time. The purchases will be made through the facilities of the Toronto Stock Exchange and/or through any alternative trading systems in Canada. Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which the company sought and received approval from the TSX to purchase up to 3,000,000 common shares for the period of May 7, 2025 to May 6, 2026, the company acquired 768,632 of its common shares.Shares in ENGH rose 2.6% last Friday on the TSX.
$ENGH.TO