Stantec announces renewal of Normal Course Issuer Bid EDMONTON, Alberta, Dec. 11, 2023 (GLOBE NEWSWIRE) -- TSX, NYSE: STN
Stantec Inc. (“Stantec”), a global leader in sustainable design and engineering, announced today that it has received approval from the Toronto Stock Exchange ( the “TSX”) respecting the renewal of its Normal Course Issuer Bid (“NCIB”). Pursuant to the NCIB documentation filed with the TSX, Stantec may purchase up to 2,281,339 common shares, representing approximately 2% of Stantec’s 114,066,995 issued and outstanding common shares as of December 1, 2023. The purchases may commence on December 13, 2023 and will terminate no later than December 12, 2024. Except for block purchases permitted under the rules and policies of the TSX, the number of shares to be purchased per day will not exceed 88,772 or approximately 25% of the average daily trading volume for the six full calendar months ending November 30, 2023, which is 355,090 shares. Stantec will make the purchases on the open market through the facilities of the TSX or any alternative Canadian trading system, and the prices that Stantec will pay for any common shares will be the market price of such shares at the time of acquisition. All shares purchased by Stantec will be cancelled.
Stantec announces renewal of Normal Course Issuer Bid and (globenewswire.com)