FirstService Announces Normal Course Issuer Bid

Rhea-AI Summary

FirstService Corporation (TSX/NASDAQ: FSV) has announced a new Normal Course Issuer Bid (NCIB) program to repurchase up to 1.6 million common shares, representing 3.9% of its public float, between August 26, 2025, and August 25, 2026.

The company will execute purchases through the TSX, alternative Canadian Trading Systems, and NASDAQ at market prices. Daily purchases will be limited to 23,872 shares, except for block purchases. As of August 12, 2025, FirstService has 45.5 million shares outstanding with a public float of 41.2 million shares.

Under its previous NCIB program ending August 25, 2025, FirstService has not purchased any shares for cancellation.

Positive

• Authorization to repurchase up to 1.6 million shares (3.9% of float) demonstrates confidence in company's value
• Flexible repurchase timeline allows strategic buying at attractive price points
• Program helps mitigate dilution from stock option issuances

Negative

• No shares were repurchased under the previous NCIB program, indicating potential execution uncertainty
• Daily purchase limitations of 23,872 shares may restrict buying opportunities

News Market Reaction

+1.16%

1 alert

+1.16% News Effect

On the day this news was published, FSV gained 1.16%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

TORONTO, Aug. 19, 2025 (GLOBE NEWSWIRE) -- FirstService Corporation (TSX and NASDAQ: FSV) (“FirstService”) announced today that the Toronto Stock Exchange (the “TSX”) has accepted a notice filed by FirstService of its intention to make a normal course issuer bid (the “NCIB”) with respect to its outstanding common shares.

The notice provides that FirstService may, during the 12 month period commencing August 26, 2025 and ending no later than August 25, 2026, purchase through the facilities of the TSX, alternative Canadian Trading Systems and/or The NASDAQ Stock Market (“NASDAQ”) up to 1,600,000 common shares in total, being 3.9% of the “public float” of common shares as of August 12, 2025. The price which FirstService will pay for any common shares will be the market price at the time of acquisition. During the period of this NCIB, FirstService may make purchases under the NCIB by means of open market transactions. The actual number of common shares which may be purchased pursuant to the NCIB and the timing of any such purchases will be determined by senior management of FirstService. The average daily trading volume from February 1 to July 31, 2025 was 95,488 common shares. Daily purchases under the NCIB will be limited to 23,872 common shares, other than block purchases. All shares purchased by FirstService under the NCIB will be cancelled.

As of August 12, 2025, there were 45,552,586 common shares of FirstService outstanding, and the public float was 41,181,993 common shares.

FirstService may purchase its common shares, from time to time, if it believes that the market price of its common shares is attractive and that the purchase would be an appropriate use of corporate funds and in the best interests of FirstService. FirstService may also purchase its common shares in order to mitigate the dilutive effect of stock options issued under its stock option plan.

Pursuant to a previous notice of intention to conduct a NCIB, under which FirstService sought and received approval from the TSX to purchase up to 1,600,000 common shares for the period of August 26, 2024 to August 25, 2025, FirstService has not purchased for cancellation, as of August 12, 2025, any common shares. FirstService’s previous NCIB expires on August 25, 2025.

About FirstService Corporation

FirstService Corporation is a North American leader in the property services sector, serving its customers through two industry-leading service platforms: FirstService Residential – North America’s largest manager of residential communities; and FirstService Brands – one of North America’s largest providers of essential property services delivered through individually branded company-owned operations and franchised systems.

FirstService generates more than $5.4 billion in annual revenues and has approximately 30,000 employees across North America. With significant insider ownership and an experienced management team, FirstService has a long-term track record of creating value and superior returns for shareholders. The Common Shares of FirstService trade on the NASDAQ and the Toronto Stock Exchange under the symbol "FSV", and are included in the S&P/TSX 60 Index.

For the latest news from FirstService Corporation, visit www.firstservice.com.

Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements” within the meaning of applicable securities legislation, including, but not limited to, statements relating to future purchases of common shares under the NCIB. Much of this information can be identified by words such as “expect to,” “expected,” “will,” “estimated” or similar expressions suggesting future outcomes or events. FirstService believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon.

Forward-looking statements are based on current information and expectations that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those anticipated. These risks include, but are not limited to, risks associated with FirstService’s financial condition and prospects; the stability of general economic and market conditions; currency exchange rates and interest rates; the availability of cash for repurchases of outstanding common shares under the NCIB; the existence of alternative uses for FirstService’s cash resources which may be superior to effecting repurchases under the NCIB; compliance by third parties with their contractual obligations; compliance with applicable laws and regulations pertaining to the NCIB; and other risks related to FirstService’s business, including those identified in FirstService’s annual information form for the year ended December 31, 2024 under the heading “Risk factors” (a copy of which may be obtained at www.sedarplus.ca) and Annual Report on Form 40-F filed with the United States Securities and Exchange Commission (a copy of which may be obtained at www.sec.gov), and subsequent filings. Forward-looking statements contained in this press release are made as of the date hereof and are subject to change. All forward-looking statements in this press release are qualified by these cautionary statements. Unless otherwise required by applicable securities laws, we do not intend, nor do we undertake any obligation, to update or revise any forward-looking statements contained in this press release to reflect subsequent information, events, results or circumstances or otherwise.

COMPANY CONTACTS:

D. Scott Patterson
Chief Executive Officer
(416) 960-9566

Jeremy Rakusin
Chief Financial Officer
(416) 960-9566

FAQ

How many shares can FirstService (FSV) repurchase under its new NCIB program?

FirstService can repurchase up to 1.6 million common shares, representing 3.9% of its public float, between August 26, 2025, and August 25, 2026.

What is the daily purchase limit for FirstService's 2025-2026 share buyback program?

FirstService's daily purchases are limited to 23,872 common shares, except for block purchases, based on the average daily trading volume from February to July 2025.

How many shares did FirstService (FSV) repurchase under its previous NCIB program?

FirstService has not purchased any shares for cancellation under its previous NCIB program that expires on August 25, 2025.

What is the current number of outstanding shares for FirstService (FSV)?

As of August 12, 2025, FirstService has 45,552,586 common shares outstanding, with a public float of 41,181,993 shares.

Through which exchanges will FirstService conduct its share repurchases?

FirstService will conduct share repurchases through the Toronto Stock Exchange (TSX), alternative Canadian Trading Systems, and NASDAQ.