Melcor Developments Ltd. Announces Normal Course Issuer Bid

EDMONTON, Alberta, June 08, 2026 (GLOBE NEWSWIRE) -- Melcor Developments Ltd. (TSX:MRD), an Alberta-based real estate development and asset management company, announced today that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid through the facilities of the TSX and on alternative trading systems including: Alpha ATS, Omega ATS, Pure Trading, CHI-X Canada, CX2 and MATCH Now (Triact Canada).

The notice provides that Melcor may, during the twelve-month period commencing June 10, 2026 and ending June 9, 2027, purchase for cancellation up to 1,499,317 common shares in total, being approximately 5% of its issued and outstanding common shares. The daily repurchase restriction for the common shares is 2,030.

The price which Melcor will pay for any such common shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be subject to compliance with the TSX guidelines.

Under the previous normal course issuer bid, through May 31, 2026 308,014 common shares were purchased for cancellation through the facilities of the TSX, CHI-X Canada and MATCH Now at a weighted average price per common share of $15.76 (1,511,087 had been approved for repurchase). As of May 31, 2026, there were 29,986,351 common shares of Melcor outstanding and the average daily trading volume for the six-month period ending May 31, 2026 was 8,120.

Melcor believes that, at times, its common shares trade in a price range which does not adequately reflect the value of such common shares in relation to the business of Melcor and its future business prospects. As a result, depending upon future price movements and other factors, Melcor believes that its outstanding common shares may represent an attractive investment for itself. Furthermore, the purchases may benefit all persons who continue to hold common shares by increasing their equity interest in Melcor. All common shares purchased by Melcor under the normal course issuer bid will be cancelled.

In connection with commencement of the NCIB the Corporation also announced that it has entered into an automatic repurchase plan agreement (“ARPP”) with a broker to allow for the purchase of common shares under the NCIB at times when the Corporation ordinarily would not be active in the market due to regulatory restrictions or self-imposed trading blackout periods. Before entering into such restricted or blackout period, the Corporation may, but is not required to, instruct the designated broker to make purchases under the NCIB in accordance with the terms of the ARPP. Such purchases will be determined by the broker in its sole discretion based on parameters established by the Corporation prior to the restricted or blackout period in accordance with TSX rules, applicable securities laws and the terms of the ARPP. Outside of these predetermined restrictions or blackout periods, common shares will be purchased based on management’s discretion, in compliance with TSX rules and applicable securities laws.

Schreibe Deinen Kommentar