RE:RE:RE:RE:RE:RE:NCIB will be renewn ... reet Capital Group Inc. ("Street Capital" or the "Company") (TSX: SCB), announced today that the Toronto Stock Exchange (the "Exchange") has accepted Street Capital's notice of its intention to renew its normal course issuer bid for a portion of its common shares ("Common Shares"). Street Capital's normal course issuer bid will be made in accordance with the requirements of the Exchange. Street Capital is adopting an automatic securities purchase plan in connection with its normal course issuer bid that contains parameters regarding how its Common Shares may be repurchased during times when it would ordinarily not be permitted to purchase Common Shares due to regulatory restrictions or self-imposed blackout periods.
Pursuant to the notice, Street Capital may, in the 12-month period commencing March 23, 2017, acquire for cancellation up to 2% of the total Common Shares outstanding. Based on a total of 121,531,794 Common Shares outstanding on March 9, 2017, Street Capital could acquire 2,430,636 Common Shares under its normal course issuer bid. Purchases will be made at market prices through the facilities of the Exchange. Under the normal course issuer bid, Street Capital may purchase up to 15,523 Common Shares on the Exchange during any trading day, which is 25% of 62,094 (the average daily trading volume for Street Capital's Common Shares on the Exchange for the six months ended February 28, 2017). This limitation does not apply to purchases made pursuant to block purchase exemptions.