- Supremex (SXP) has received approval from the TSX to renew its normal course issuer bid (NCIB)
- Between August 31, 2022 and August 30, 2023, the company may purchase up to 1,301,713 of its common shares for cancellation
- Daily purchases under the bid are limited to 9,811 common shares
- Under its current NCIB, Supremex has repurchased 920,100 of its common shares
- Supremex is a provider of paper-based packaging solutions
- Supremex Inc. (SXP) opened trading at C$4.30
Supremex (SXP) has received approval from the TSX to renew its normal course issuer bid (NCIB).
Under the bid, Supremex may purchase up to 1,301,713 of its common shares for cancellation.
The bid begins on August 31, 2022 and ends on August 30, 2023.
Daily purchases under the bid are limited to 9,811 common shares, representing 25 per cent of the company’s average daily trading volume.
Supremex has entered into an automatic share purchase plan. Under the plan, the company’s broker may repurchase common shares which it would ordinarily not be permitted to due to regulatory restrictions or self-imposed blackout periods.
Under its current NCIB, Supremex has repurchased 920,100 of its outstanding common shares at a weighted average price per share of $2.8229.
Supremex is a North American manufacturer and marketer of envelopes and a growing provider of paper-based packaging solutions. Supremex operates ten manufacturing facilities across four provinces in Canada and four manufacturing facilities in the U.S.
Supremex Inc. (SXP) opened trading at C$4.30.