- Converge Technology Solutions (CTS) has announced a Normal Course Issuer Bid
- Under the bid, Converge may purchase up to 10,744,818 common shares for cancellation
- Daily purchases will not exceed 170,868 common shares
- Converge is a software-enabled IT & Cloud Solutions provider
- Converge Technology Solutions Corp. (CTS) opened trading at C$6.23
Converge Technology Solutions (CTS) has announced a Normal Course Issuer Bid.
Under the bid, Converge may purchase for cancellation up to a total of 10,744,818 common shares, representing 5 per cent of the company’s issued and outstanding common shares as at July 31, 2022.
Daily purchases will not exceed 170,868 common shares.
The NCIB will commence on August 11, 2022 and end on August 10, 2023.
Purchases of common shares under the NCIB will be made on the open market. All common shares acquired under the NCIB will be cancelled.
The company has entered into an automatic share purchase plan agreement with Hampton Securities Limited to facilitate the repurchase of common shares.
Converge is a software-enabled IT & Cloud Solutions provider focused on delivering industry-leading solutions and services. Converge delivers advanced analytics, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.
Converge Technology Solutions Corp. (CTS) opened trading at C$6.23.