- Black Diamond Group Limited (BDI) has obtained approval from the TSX to renew its normal course issuer bid
- Between March 14, 2023, and March 13, 2024, the company may purchase up to 4,395,507 of its common shares for cancellation
- Black Diamond Group is a specialty rentals and industrial services company with two operating business units
- Black Diamond Group Limited (BDI) opened trading at $6.55 per share
Black Diamond Group Limited (BDI) has obtained approval to renew its normal course issuer bid.
Between March 14, 2023, and March 13, 2024, the company may purchase up to 4,395,507 of its common shares.
This amount represents 10 per cent of the public float of the common shares and approximately 7.3 per cent of the 60,375,770 issued and outstanding common shares.
Daily purchases will be limited to 12,464 common shares, representing 25 per cent of the company’s average daily trading volume for the six calendar months prior to the start of the bid.
All common shares purchased by the company under the NCIB will be cancelled.
The repurchase of common shares by Black Diamond will increase the proportionate interest of the company’s shareholders.
The company has engaged Raymond James Ltd. to act as broker and to administer the NCIB.
Black Diamond Group is a specialty rentals and industrial services company with two operating business units – Modular Space Solutions (MSS) and Workforce Solutions (WFS).
Black Diamond Group Limited (BDI) opened trading at $6.55 per share.