illumin Announces TSX Acceptance of Normal Course Issuer Bid
Rhea-AI Summary
illumin (TSX:ILLM / OTCQB:ILLMF) received TSX approval to renew a normal course issuer bid (NCIB) to repurchase up to 3,858,045 common shares, representing about 10% of the public float as at December 17, 2025. The NCIB starts December 31, 2025 and may run to December 30, 2026. The company reported an ADTV of 101,116 shares (June 1–Nov 30, 2025), making the daily purchase limit 25,279 shares (25% of ADTV).
Purchases will be made on-market via a broker, including through an automatic share purchase plan (ASPP) pre-cleared by the TSX to allow buys during blackout periods. Under the prior NCIB the company repurchased 1,025,552 shares at an average price of $1.53 per share.
Positive
- NCIB size: up to 3,858,045 shares (~10% public float)
- ASPP pre-cleared by TSX to permit timely purchases during blackouts
- Prior repurchases: 1,025,552 shares repurchased at $1.53 average
Negative
- Daily purchase cap: 25,279 shares (25% of ADTV) may extend completion time
- No disclosed dollar limit or funding source for full repurchase amount
News Market Reaction – ILLMF
On the day this news was published, ILLMF declined 3.70%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, Dec. 29, 2025 (GLOBE NEWSWIRE) -- illumin Holdings Inc. (TSX:ILLM) (OTCQB:ILLMF) (“illumin” or the “Company”) is pleased to announce that it has received approval from the Toronto Stock Exchange (“TSX”) to renew its normal course issuer bid (“NCIB”).
Under the NCIB, the Company may purchase for cancellation up to 3,858,045 common shares of the Company (the “Shares”). As at December 17, 2025, illumin had 51,573,462 Shares issued and outstanding. As such, the maximum number of shares that may be purchased under the NCIB represents approximately 10% of illumin’s public float as at December 17, 2025, being 3,858,045 Shares. The Company’s average daily trading volume (“ADTV”) between June 1, 2025, and November 30, 2025, was 101,116 Shares and the daily purchase limit, being
In connection with the NCIB, illumin has entered into an automatic share purchase plan (the “ASPP”) with its designated broker to allow for the purchase of Shares under the NCIB at times when illumin normally would not be active in the market due to internal trading black-out periods. Such purchases will be determined by the broker at its sole discretion, based on the purchasing parameters set out by the Company in accordance with the rules of the TSX, applicable securities laws and the terms of the ASPP. Purchases of Shares under the ASPP may be made through the facilities of the TSX and alternative trading systems. The ASPP has been pre-cleared by the TSX and will be effective as of December 31, 2025. The ASPP will terminate on the earliest of the date on which: (i) the NCIB expires; (ii) the maximum number of Shares have been purchased under the NCIB; and (iii) the Company terminates the ASPP in accordance with its terms. Concurrent with the establishment of the ASPP, the Company has confirmed to the broker that it was then not aware of any material undisclosed or non-public information with respect to the Company or any securities of the Company. During the term of the ASPP, the Company will not communicate any material undisclosed or non-public information to the trading staff of the broker; accordingly, the broker may make purchases regardless of whether a trading blackout period is in effect or whether there is material undisclosed or non-public information about the Company at the time that purchases are made under the ASPP. In the event that the ASPP is materially varied, suspended or terminated, the Company will issue a news release advising of such variation, suspension or termination, as applicable.
Management of the Company believes that, from time to time, the market price of the Shares may not fully reflect the underlying value of the Shares and that at such times the purchase of Shares would be in the best interests of shareholders. As a result of such purchases, the number of issued Shares will be decreased and, consequently, the proportionate share interest of all remaining shareholders will be increased on a pro rata basis.
Pursuant to a previous normal course issuer bid, illumin sought acceptance of the TSX to purchase up to 3,914,167 common shares and which was accepted by the TSX on December 19, 2024, commenced on December 23, 2025, and expired on December 22, 2025. The Company had, as at December 17, 2025, repurchased and cancelled under that earlier NCIB 1,025,552 Shares on the open market at an average purchase price of
About illumin:
illumin is evolving the digital advertising landscape by empowering marketers to achieve transformative results through its customer-centric approach. Featuring a unified canvas built around the open web, illumin lets brands and agencies seamlessly plan, build, and execute campaigns across the entire marketing funnel—connecting programmatic channels, email, and social media within a single platform. Headquartered in Toronto, Canada, illumin serves clients across North America, Latin America, and Europe. For more information, visit www.illumin.com.
For further information, please contact:
| Steve Hosein Investor Relations illumin Holdings Inc. 416-218-9888 x5313 investors@illumin.com | David Hanover Investor Relations – U.S. KCSA Strategic Communications 212-896-1220 dhanover@kcsa.com |
Disclaimer in regard to Forward-looking Statements
Certain statements included herein constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. In particular, this news release contains forward-looking statements and information relating to the Company’s belief that the NCIB is in the best interests of the Company and its shareholders and that underlying value of the Company may not be reflected in the market price of the Shares. Investors are cautioned not to put undue reliance on forward-looking statements. Except as required by law, the Company does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events.
For more complete information about the Company, please read our disclosure documents filed on SEDAR+ at www.sedarplus.com.
FAQ
How many shares can illumin (ILLMF) repurchase under the December 2025 NCIB?
When does the illumin NCIB (TSX:ILLM) start and end?
What is illumin's daily purchase limit under the NCIB (ILLMF)?
Will illumin be able to buy shares during blackout periods under the NCIB?
How many shares did illumin repurchase under its prior NCIB?
How will illumin execute purchases for the NCIB (ILLM)?
