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TORONTO, May 20, 2020 /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 1,572,552 non-voting, non-redeemable Class A Shares (the "Shares") representing 10% of Cymbria's public float of Shares as of May 11, 2020. As of May 11, 2020, Cymbria had a total of 15,852,896 Shares issued and outstanding.
Cymbria may buy back Shares from time to time during the twelve-month period beginning on May 25, 2020 and ending on May 24, 2021. 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 317,058 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.
Pursuant to a previous notice of intention to conduct a normal course issuer bid, under which Cymbria sought and received approval from the TSX to purchase up to 1,553,563 Class A Shares for the period of May 23, 2019 to May 22, 2020, 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]