Why Did Jamieson Wellness Decide to Renew Its Share Repurchase Program?

2 min read | January 30, 2025 07:50 AM EST | By Team Kalkine Media

Why Did Jamieson Wellness Decide to Renew Its Share Repurchase Program? — Image source: Shutterstock

Details of the Normal Course Issuer Bid

Under the renewed NCIB, Jamieson Wellness may repurchase and cancel a defined number of its common shares. This represents a significant portion of the Company’s public float, as outlined in the TSX policies, based on data as of January 2025. The repurchase program is scheduled to commence in February 2025 and will run until early 2026 or until the Company acquires the maximum allowed number of shares or chooses to discontinue the buyback.

Repurchase Mechanism and Limitations

The repurchases will be carried out through open market transactions on the TSX and through alternative trading systems within Canada. Once repurchased, the shares will be cancelled. According to TSX guidelines, Jamieson Wellness can repurchase a daily maximum number of shares, based on the average trading volume during a specified period, with provisions for block purchases in certain circumstances.

Impact on Shares and Market

Shares will be repurchased at the prevailing market price during the NCIB. The total number of shares repurchased will not exceed the authorized limit. The repurchased shares will then be cancelled, reducing the total number of outstanding common shares.

This initiative is part of Jamieson Wellness's ongoing strategy to maintain an effective capital structure while continuing to play a prominent role in the health and wellness industry. The Company will remain in compliance with regulatory requirements and provide updates as necessary throughout the duration of the NCIB.

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