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TORONTO, May 18, 2016 /CNW/ - Cymbria Corporation (TSX: CYB) ("Cymbria") 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"). This permits Cymbria to purchase for cancellation up to 1,424,388 non-voting, non-redeemable Class A Shares (the "Shares") representing 10% of Cymbria's public float of Shares as of May 6, 2016. As of May 6, 2016, Cymbria had a total of 14,366,327 Shares issued and outstanding.
Cymbria may buy back Shares from time to time during the twelve-month period beginning on May 20, 2016 and ending on May 19, 2017. All Class A Shares will be purchased on the open market through the facilities of the TSX or through alternative Canadian trading systems or by such other means as may be permitted by the TSX or under applicable securities laws.
In accordance with TSX rules, Cymbria can purchase a maximum of 287,326 Shares during a 30-day period, subject to certain TSX exceptions.
Cymbria is implementing the NCIB to allow it to purchase Shares if and when it makes sense to do so. Decisions regarding the timing of future purchases of Shares will be based on market conditions, share price and other factors.
As of May 18, 2016, under Cymbria's previous NCIB, which expires on May 19, 2016, Cymbria did not buy back any Class A Shares for cancellation.
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 [email protected]