MISSISSAUGA, Ontario, Dec. 19, 2023 (GLOBE NEWSWIRE) — goeasy Ltd. (TSX: GSY), (“ goeasy †or the “ Company â€), one of Canadaâ€
Under the NCIB, goeasy may purchase up to 7,302 of its Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 29,210 Common Shares on the TSX for the six months ended November 30, 2023, other than block purchase exemptions. Purchases under the NCIB may commence on December 21, 2023 and continue until December 20, 2024 or such earlier date as goeasy completes its purchases pursuant to the NCIB.
The NCIB will be conducted through the facilities of the TSX or alternative Canadian trading systems, if eligible, and the price that goeasy will pay for any Common Shares will be the market price prevailing at the time of purchase or such other price as may be permitted. Purchases under the NCIB will be made by means of open market transactions or other such means as a securities regulatory authority may permit.
In connection with the NCIB renewal, the Company also announces that it has entered into an issuer automatic purchase plan agreement (the “ Plan â€) with an independent designated broker (the “ Broker â€) responsible for making purchases of Common Shares pursuant to the Plan. Under the Plan, the Broker will have sole discretion to purchase Common Shares pursuant to the NCIB during trading black-out periods established under the Companyâ€
Under its current normal course issuer bid, which commenced on December 21, 2022 and expires on December 20, 2023, the number of Common Shares that could be repurchased for cancellation was 1,252,730. To date, the Company has not purchased for cancellation any Common Shares, through the facilities of the TSX and alternative Canadian trading systems.
The NCIB will provide goeasy with the flexibility to purchase Common Shares as part of its capital management strategy, which is designed to maintain healthy capital levels while balancing the objective of generating shareholder value.
About goeasy
goeasy Ltd. is a Canadian company, headquartered in Mississauga, Ontario, that provides non-prime leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by approximately 2,400 employees, the Company offers a wide variety of financial products and services including unsecured and secured instalment loans, merchant financing through a variety of verticals and lease-to-own merchandise. Customers can transact seamlessly through an omnichannel model that includes online and mobile platforms, over 400 locations across Canada, and point-of-sale financing offered in the retail, powersports, automotive, home improvement and healthcare verticals, through over 9,100 merchant partners across Canada. Throughout the Companyâ€
Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards in recognition of its exceptional culture and continued business growth including Waterstone Canadaâ€
goeasy Ltd.â€
For more information about goeasy and our business units, visit www.goeasy.com , www.easyfinancial.com , www.lendcare.ca , www.easyhome.ca .
For further information contact:
Jason Mullins
President & Chief Executive Officer
(905) 272-2788
Farhan Ali Khan
Senior Vice President, Chief Corporate Development Officer
(905) 272-2788
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