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TORONTO, May 14, 2014 /CNW/ - Cymbria Corporation (TSX: CYB) ("Cymbria" or "the Company") announced today that it has filed a notice with the Toronto Stock Exchange ("TSX") and received its approval to make a Normal Course Issuer Bid ("NCIB") permitting the Company to purchase for cancellation of up to 1,403,801 non-voting, non-redeemable Class A Shares (the "Shares") representing 10% of the Company's public float of Shares as of May 9, 2014. As of May 9, 2014, Cymbria had a total of 14,153,886 Shares issued and outstanding.
Cymbria may buy back Shares from time to time during the twelve-month period beginning on May 20, 2014 and ending on May 19, 2015. Any purchases under the NCIB will be made through the facilities of the TSX.
In accordance with TSX rules, the Company can purchase a maximum of 283,077 Shares during a 30-day period, subject to certain TSX exceptions.
The Company is implementing the NCIB to allow it to purchase Shares if and when it makes sense to do so.
Under the Company's previous NCIB, which expires on May 16, 2014, the Company purchased for cancellation 32,400 Shares at a weighted average price of $16.97.
ABOUT CYMBRIA CORPORATION
Cymbria's investment objective is to provide shareholders with long-term capital appreciation through an actively managed portfolio comprised primarily of global equities and an investment in EdgePoint Wealth Management Inc. Cymbria began trading on the TSX on November 4, 2008 under the symbol CYB.
SOURCE: Cymbria Corporation
For further information: Patrick Farmer at 416.963.9353 or firstname.lastname@example.org.