- IBEX Technologies Inc. (IBT) has announced the IBEX’s normal course issuer bid (NCIB) by the TSX Venture Exchange
- IBEX may purchase a maximum of 1,800,000 common shares for cancellation between August 5, 2022 and August 4, 2023
- In connection with the NCIB, IBEX has entered into an automatic share-purchase plan with Leede Jones Gable Inc
- IBEX manufactures and markets proteins for biomedical use through its wholly-owned subsidiary IBEX Pharmaceuticals Inc
- IBEX Technologies Inc. was up 11.688 per cent, trading at $0.43 at 1:01 PM ET
IBEX Technologies (IBT) has announced a normal course issuer bid (NCIB).
Between August 5, 2022 and August 4, 2023, IBEX may purchase a maximum of 1,800,000 common shares for cancellation, representing approximately 10 per cent of IBEX’s public float.
As of July 21, 2022, IBEX had 24,823,244 common shares issued and outstanding.
Any shares purchased by IBEX under the NCIB will be at the market price of the shares at the time of the purchase.
The Board of Directors of IBEX believes that repurchasing its shares through the NCIB can protect and enhance shareholder value.
In connection with the NCIB, IBEX has entered into an automatic share-purchase plan with Leede Jones Gable Inc. in order to allow for purchases under the NCIB during IBEX’s “black-out” periods, as permitted by the Securities Act (Québec). Leede Jones Gable Inc. will also effect purchases under the NCIB on behalf of the company during non-“black-out” periods.
IBEX manufactures and markets proteins for biomedical use through its wholly-owned subsidiary IBEX Pharmaceuticals Inc. (Montréal, QC).
IBEX Technologies Inc. was up 11.688 per cent, trading at $0.43 at 1:01 PM ET.