Interfor amends share buyback program
Interfor recently announced that the Toronto Stock Exchange has accepted a notice filed by the company of its intention to amend its Normal Course Issuer Bid (NCIB).
The amended NCIB increases the maximum number of common shares that may be purchased by an additional 690,906 common shares, and results from a recalculation of the company’s public float based on updated ownership information of certain insiders as of the date of the original announcement of the NCIB. The amended NCIB will allow for the purchase of up to 6,672,658 common shares during the twelve-month period that commenced on November 11, 2020, and ends on November 10, 2021, representing 10% of the company’s public float as of November 5, 2020. All other terms of the NCIB will remain unchanged and are described in the company’s news release dated November 5, 2020.
As of market close on September 16, 2021, the company has purchased 5,857,520 common shares under the NCIB at an average price of $25.99 per common share, resulting in 815,137 common shares available for purchase under the amended NCIB.