The decrease was primarily driven by free cash flow generation in H1 2019 being used to pay down the Senior Facility and working capital returning to the balance sheet, offset by opportunistic repurchases of the Company's common shares under the NCIB
. The maximum available draw on the Senior Facility at June 30, 2019 was $180.0 million on the Canadian facility and US$40.0 million on the US facility ( December 31, 2018 - $180.0 million and US$40.0 million , respectively).
Pursuant to the NCIB
, VersaBank may purchase for cancellation up to 435,000 of its common shares representing 3.2% of its public float.
Forward-looking statements contained in this news release include statements (i) regarding future purchases of common shares under the NCIB
(including under the automatic repurchase plan), (ii) that are predictive in nature or that depend News release upon or refer to future events or conditions, and (iii) that include words such as 'achieve', 'aim', 'ambition', 'anticipate', 'aspiration', 'assumption', 'believe', 'could', 'estimate', 'expect', 'goal', 'initiatives', 'intend', 'may', 'objective', 'outlook', 'plan', 'project', 'seek', 'should', 'strategy', 'strive', 'target', 'will' and similar expressions.
Reportedly, this NCIB
has been approved by the company's board of directors, but it is subject to acceptance by the TSX and, if accepted, will be made in accordance with the applicable rules and policies of the TSX and applicable Canadian securities laws.
The actual number of Common Shares which may be purchased pursuant to the NCIB
will be determined by the Company.
(TSX/NYSE: QSR) ('RBI') announced today that it has filed, and the Toronto Stock Exchange (the 'TSX') has accepted, notice of RBI's intention to renew its normal course issuer bid (the 'NCIB
') for its common shares (the 'Common Shares').
Granite Real Estate announced the acceptance by the Toronto Stock Exchange of Granite GP's Notice of Intention to Make a Normal Course Issuer Bid, or NCIB
. Pursuant to the NCIB
, Granite GP proposes to purchase through the facilities of the TSX and any alternative trading system in Canada, from time to time over the next 12 months, if considered advisable, up to an aggregate of 3,939,255 of Granite's issued and outstanding stapled units, being approximately 10% of Granite's public float of Stapled Units as of April 30, 2018.
January 2, 2019, Home Capital commenced a normal course issuer bid ('NCIB
') to permit the purchase of common shares of Home Capital ('Common Shares') through the facilities of the Toronto Stock Exchange (the 'TSX'), designated exchanges and alternative trading systems.
Global Banking News-October 8, 2018-Slate Retail REIT signs automatic securities repurchase plan under its NCIB