- Microbix Biosystems (MBX) has announced a Normal Course Issuer Bid for the repurchase and cancellation of outstanding common shares
- Microbix may repurchase up to 6,949,568 common shares between October 3, 2022, and October 2, 2023
- The daily maximum will be 25 per cent of the average daily trading volume for the most recent six months
- Microbix develops proprietary biological products and services for human health and well-being
- Microbix Biosystems Inc. (MBX) opened trading at C$0.49
Microbix Biosystems (MBX) has announced a Normal Course Issuer Bid for the repurchase and cancellation of outstanding common shares.
The NCIB enables Microbix to repurchase up to 6,949,568 common shares over a 12-month period starting on October 3, 2022, and ending on October 2, 2023.
The NCIB has been approved by Microbix’s Board of Directors but is subject to acceptance by the TSX.
The daily maximum will be 25 per cent of the average daily trading volume for the most recent six calendar months. The ADTV on the TSX for the six calendar months ended August 31, 2022, is 46,128.
Microbix has entered into a pre-defined automatic securities purchase plan with its broker, Haywood Securities Inc.
The Board of Directors believes that this NCIB will benefit shareholders by increasing their proportionate equity interest in Microbix.
Microbix develops proprietary biological products and services for human health and well-being. It makes a wide range of critical ingredients and devices for the global diagnostics industry.
Microbix Biosystems Inc. (MBX) opened trading at C$0.49.