Evertz Technologies Limited (ET) Announces TSX Approval of Normal Course Issuer Bid
Rhea-AI Summary
Evertz (TSX: ET / Symbol EVTZF) received TSX approval for a Normal Course Issuer Bid to buy up to 3,774,227 common shares (approximately 5% of 75,484,550 outstanding) from Dec 11, 2025 to Dec 10, 2026. Purchases will be made at market price through TSX or ATS, with daily purchases generally limited to 5,615 shares (≈25% of ADV). All repurchased shares will be cancelled. Evertz will implement an automatic securities purchase plan (ASPP) effective about Dec 11, 2025 to allow purchases during blackout periods. Under the prior NCIB (Nov 27, 2024–Nov 26, 2025) Evertz repurchased 534,107 shares at an average price of $11.42.
Positive
- Repurchase authorization for 3,774,227 shares (~5% outstanding)
- Prior NCIB repurchases of 534,107 shares at average $11.42
- ASPP enables purchases during blackout periods
Negative
- Repurchases will use corporate funds, reducing available cash/resources
Key Figures
Market Reality Check
Peers on Argus
While EVTZF was up 6.64%, key peers like UBLXF (-0.5%) and VTKLY (-3.58%) traded lower, with others flat. The move appeared stock-specific rather than a broad Communication Equipment sector trend.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Sep 10 | Q1 2026 results | Positive | +0.0% | Reported stronger Q1 2026 revenue, margins, and net earnings with solid cash. |
| Sep 02 | Earnings call date | Neutral | +0.8% | Announced date and conference call details for upcoming Q1 2026 results. |
| Jun 25 | Fiscal 2025 results | Positive | +0.9% | Reported fiscal 2025 revenue above $500M with higher recurring software revenue. |
| Jun 18 | Year-end call date | Neutral | +0.3% | Scheduled release and call for fiscal 2025 year-end financial results. |
Recent earnings and scheduling announcements tended to be positive and saw small, aligned price moves, suggesting the stock has historically reacted modestly but constructively to good news.
This announcement of a Normal Course Issuer Bid follows a period of solid financial performance. In fiscal 2025, Evertz reported revenue of $501.6 million and Q4 2025 net earnings of $13.0 million. Subsequent Q1 2026 results on Sep 10, 2025 showed revenue of $112.1 million and net earnings of $11.9 million, supported by a cash position of $124.3 million. Prior news mostly involved earnings reports and result-date announcements with small positive price reactions, setting a backdrop of financial strength for today’s NCIB approval.
Market Pulse Summary
This announcement details TSX approval for a Normal Course Issuer Bid allowing Evertz to repurchase up to 3,774,227 common shares, or 5% of its 75,484,550 outstanding shares, over a 12‑month window. The company previously bought 534,107 shares at an average of $11.42 under an earlier NCIB. Set against recent strong revenue and cash figures, this adds a defined framework for capital return. Investors may monitor actual repurchase volumes, pricing, and future financial updates to assess ongoing impact.
Key Terms
normal course issuer bid regulatory
automatic securities purchase plan regulatory
blackout periods regulatory
forward-looking information regulatory
AI-generated analysis. Not financial advice.
Attention Business/Financial Editors:
Toronto, Ontario--(Newsfile Corp. - December 9, 2025) - Evertz Technologies Limited (TSX: ET) ("Evertz") announces that it has sought and received acceptance from the Toronto Stock Exchange ("TSX") to make a Normal Course Issuer Bid to purchase up to 3,774,227 of its outstanding common shares from time to time in accordance with the normal course issuer bid procedures of the TSX and applicable Canadian securities laws (the "NCIB").
Pursuant to the NCIB, Evertz may purchase for cancellation up to 3,774,227 of its outstanding common shares during the 12-month period commencing on December 11, 2025 and ending on December 10, 2026. The total aggregate number of common shares which Evertz may purchase pursuant to NCIB represents approximately
The price which Evertz will pay for any common shares purchased under the NCIB will be the market price at the time of such purchase. All purchases of common shares by Evertz will be made through the facilities of TSX or alternative trading systems in Canada. All purchased shares will be cancelled.
Other than as otherwise permitted pursuant to once-a-week block purchases in accordance with TSX rules, Evertz may purchase up to 5,615 common shares per day, which represents approximately
Evertz believes that its common shares currently trade in a price range that does not adequately reflect their underlying value based on Evertz's business and strong financial position. As a result, depending upon future price movements and other factors, Evertz believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its corporate funds. Pursuant to a previous notice of intention to conduct a NCIB, Evertz sought and received approval from the TSX to purchase up to 3,797,308 of its common shares, during the period of November 27, 2024, through to November 26, 2025. As of October 31, 2025 Evertz purchased 534,107 common shares on the open market at an average purchase price of
To the knowledge of Evertz, no director, senior officer or other insider of Evertz currently intends to sell any common shares under the NCIB. However, sales by such persons through the facilities of the TSX or alternative trading systems in Canada may occur if the personal circumstances of any such person change or any such person makes a decision unrelated to these normal course purchases. The benefits to any such person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.
Evertz will also enter into an automatic securities purchase plan (the "ASPP") with an independent designated broker in order to facilitate repurchases of Common Shares. The ASPP has been approved by the TSX and will be entered into effective as of or about December 11, 2025.
Under the ASPP, Evertz's independent designated broker may purchase Common Shares under the NCIB at times when Evertz would ordinarily not be permitted to, due to its regular self-imposed blackout periods. Before the commencement of any particular internal trading blackout period, Evertz may, but is not required to, instruct its independent designated broker to make purchases of Common Shares under the NCIB during the ensuing blackout period in accordance with the terms of the NCIB. Such purchases will be determined by the independent designated broker in its sole discretion based on parameters established by Evertz prior to commencement of the applicable blackout period in accordance with the terms of the ASPP and applicable TSX rules. Outside of these blackout periods, Common Shares will continue to be purchasable by Evertz at its discretion under the NCIB.
The ASPP will terminate on the earliest of the date on which: (a) the purchase limit specified in the ASPP has been reached, (b) the purchase limit under the applicable NCIB has been reached, (c) Evertz terminates the ASPP in accordance with its terms, in which case Evertz will issue a press release confirming such termination, and (d) the applicable NCIB terminates.
Forward-Looking Information:
This press release contains certain "forward-looking information". All statements, other than statements of historical fact, that address activities, events or developments that Evertz believes, expects or anticipates will or may occur in the future (including, without limitation, statements relating to Evertz purchasing its common shares under the NCIB and entering into automatic repurchase plans with its purchasing broker) constitute forward-looking information. This forward-looking information reflects the current expectations or beliefs of Evertz based on information currently available to Evertz as well as certain assumptions including, without limitation, assumptions as to the price of Evertz's common shares. Forward-looking information is subject to a number of significant risks and uncertainties and other factors that may cause the actual results of Evertz to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on Evertz. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, a significant appreciation in the price of Evertz's common shares.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, Evertz disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise. Although Evertz believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
About Evertz
Evertz Technologies Limited (TSX: ET) designs, manufactures and markets video and audio infrastructure solutions for the television, telecommunications and new-media industries. The Company's solutions are purchased by content creators, broadcasters, specialty channels and television service providers to support their increasingly complex multi-channel digital, and high and ultra-high definition television ("HDTV" and "UHD") and next generation high bandwidth low latency IP network environments and by telecommunications and new-media companies. The Company's products allow its customers to generate additional revenue while reducing costs through efficient signal routing, distribution, monitoring and management of content as well as the automation and orchestration of more streamlined and agile workflow processes on premise and in the "Cloud".
For further information, please contact:
Evertz Technologies Limited
Doug Moore, CPA, CA
Chief Financial Officer
1-905-335-7580
email: ir@evertz.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/277347
FAQ
What does Evertz's Dec 11, 2025 NCIB approval for EVTZF allow?
How many EVTZF shares can Evertz buy per day under the NCIB?
Will Evertz cancel the shares it repurchases under the NCIB?
What was Evertz's activity under the previous NCIB ending Nov 26, 2025?
How does the ASPP affect EVTZF share repurchases?
Does the NCIB change the maximum total shares Evertz may hold?
