RE:share buybackspeedy99 wrote:
If Well does start a share buy back program following the release of 4th quarter earnings, as previously indicated, I wonder if that buying will have an impact on daily trading. I think I remember reading somewhere that there are rules as to how the buybacks can occur; maybe it has to be done in block trades or in a manner that will not disturb normal trading patterns. Just a vague recollection of something like this. But wondering if we could see some accelerated increase in share price and some possibility of a short squeeze if and when WELL starts buying back its own shares.
WELL currently has an open NCIB that expires in May 2022 - see details below. very likely that they will extend it and change the terms.
At the opening of the stock market on today's date, the Company had 195,161,273 common shares issued and outstanding. Under the NCIB, the Company may acquire up to an aggregate of 4,879,031 common shares over the next 12-month period, representing approximately 2.5% of the issued and outstanding common shares of the Company. In accordance with TSX rules, daily purchases made by the Company on the TSX will not exceed 260,501 common shares, subject to certain prescribed exemptions, being 25% of the average daily trading volume over the preceding six calendar months of 1,042,004 common shares. The NCIB will be effective from May 12, 2021 to May 11, 2022. Although the Company was eligible to purchase up to 5,943,822 common shares pursuant to the NCIB previously announced on March 23, 2020, the Company did not purchase any common shares. https://www.newswire.ca/news-releases/well-health-announces-approval-of-normal-course-issuer-bid-885299113.html