- Tier One Capital Limited Partnership has announced a normal course issuer bid commencing on October 4
- Tier One may repurchase up to a maximum of 219,644 units, representing approximately 5 per cent of its public float
- As of September 27, Tier One Capital Partnership has 4,392,885 units issued and outstanding
- Tier One Capital Limited Partnership is a listed innovative specialty finance LP committed to providing Limited Partners with access to attractive yields
- Tier One Capital Limited Partnership (TLP.UN) is currently trading at C$3.45 per share
Tier One Capital Limited Partnership (TLP.UN) has announced a normal course issuer bid for a portion of its limited partnership units.
Under the NCIB, Tier One may repurchase up to a maximum of 219,644 units, representing approximately 5 per cent of its public float. Purchases under the NCIB may be made through open market transactions on CSE based on the prevailing market price. Any units purchased under the NCIB will be cancelled. As of September 27, 2021, there were 4,392,885 units issued and outstanding.
Purchases under the NCIB will not exceed 500 units per day. On a monthly basis, not more than 0.75 per cent of the outstanding units and on a quarterly basis, not more than 1.25 per cent of outstanding Units, may be purchased.
The NCIB will commence on October 4, 2021, and will end on October 4, 2022.
Tier One’s Board of Directors and Management believe that, from time to time, the market price of the Units does not reflect their underlying value and purchases of units for cancellation under the NCIB may provide an opportunity to enhance unitholder value.
Tier One Capital Limited Partnership is a listed innovative specialty finance LP committed to providing Limited Partners with access to attractive yields. Its primary focus is on companies with recurring or predictable revenue, with high gross margins.
Tier One Capital Limited Partnership (TLP.UN) is currently trading at C$3.45 per share.