TSXV:SECU - Post Discussion
Post by
laurencelefou on Jun 02, 2022 12:06pm
NCIB should start again
On December 14, 2021, SSC announced a Normal Course Issuer Bid (NCIB). The bid is for up to 1,275,000 Class A shares common shares. The Bid will commence on January 4, 2022 and continue until January 3, 2023 or until the maximum shares are acquired. The company’s authorized share capital consists of an unlimited number of Class “A” common voting shares ("common shares") without par value.
During the six months ended March 31, 2022, the Company bought back 586,700 shares under its normal course issuer bid at an average price of $2.96 per share (six months ended March31, 2021 - 534,136 shares were bought back at an average price of $2.61).
Since the Logixx Security acquisition has been finalized, the blackout period has been lifted. I expect the company to begin to buy back shares. The current share float is ±19,800,000. Board members and management own 31.9%. The top 15 shareholders own ±60.8% of outstanding shares. The float is around 7,735,000.
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