Mattr Corp. Announces Renewal of Normal Course Issuer Bid
Rhea-AI Summary
Mattr Corp. (TSX: MATR) has received TSX approval to renew its Normal Course Issuer Bid (NCIB), allowing the repurchase of up to 4,991,584 common shares (10% of public float) starting June 30, 2025. The company has entered into an automatic share purchase plan with a designated broker to facilitate buybacks during blackout periods.
Under the previous NCIB that ended June 4, 2025, Mattr purchased and cancelled 4,982,824 shares at an average price of $13.07 per share, totaling approximately $65.2 million. Daily purchases will be limited to 68,375 shares, representing 25% of the average daily trading volume.
Positive
- Company demonstrates confidence in stock value and commitment to shareholder returns through share buybacks
- Previous NCIB successfully completed with full utilization, purchasing shares at average price of $13.07
- Automatic share purchase plan enables consistent buyback execution even during blackout periods
Negative
- Significant cash resources being allocated to buybacks instead of operational growth or debt reduction
- Share repurchases may reduce stock liquidity in the market
News Market Reaction
On the day this news was published, MTTRF gained 3.73%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Mattr Corp. (“Mattr” or the “Company”) (TSX: MATR), today announced that the Toronto Stock Exchange (the “TSX”) has approved the Company’s notice of intention to renew its normal course issuer bid (the “NCIB”) for common shares of the Company (the “Common Shares”).
Pursuant to the NCIB, the Company may purchase for cancellation up to 4,991,584 Common Shares, representing approximately
All purchases pursuant to the NCIB will be made through the facilities of the TSX, or such other permitted means (including through alternative trading systems in Canada, including NEO-N, NEO-L, NEO-D, Crossing Facility, CSE, ICX, Liquidnet, CXC, CX2, CXD, Omega ATS, Lynx ATS, TSX Venture Exchange, TSX Alpha Exchange and MATCH Now (together, the “Other Exchanges”)), at prevailing market prices or as otherwise permitted. The NCIB will be funded using existing cash resources and any Common Shares repurchased by the Company under the NCIB will be cancelled. Other than purchases made under a block purchase exemption pursuant to the rules and policies of the TSX, daily purchases on the TSX pursuant to the NCIB will be limited to 68,375 Common Shares, which represents approximately
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 the Company, subject to applicable law and the rules of the TSX and/or the rules of the Other Exchanges, if eligible, to the extent made through such facilities.
In connection with the NCIB, the Company has entered into an automatic share purchase plan (the “Plan”) with a designated broker (the “Broker”) in order to facilitate repurchases of its outstanding Common Shares under the NCIB. The Plan has been approved by the TSX and will be implemented effective as of June 30, 2025.
Under the Plan, the Broker may purchase Common Shares under the NCIB at times when the Company would ordinarily not be permitted to, due to its self-imposed regular quarterly black-out periods or special black-out periods. Before the commencement of any particular internal trading black-out period, the Company may, but is not required to, instruct the Broker to make purchases of Common Shares under the NCIB during the ensuing black-out period in accordance with the terms of the Plan. Such purchases will be determined by the Broker based on parameters established by the Company prior to commencement of the applicable black-out period in accordance with the terms of the Plan and applicable TSX rules and/or the rules of the Other Exchanges, if eligible, to the extent made through such facilities. Outside of these black-out periods, Common Shares will continue to be purchasable by the Company and the Broker at the Company’s discretion under the NCIB.
Under the Company’s previous NCIB commencing June 28, 2024, the Company purchased for cancellation a total of 4,982,824 Common Shares, being the maximum number of Common Shares it was authorized to repurchase, through the facilities of the TSX or by such other permitted means, for an aggregate repurchase price of approximately
About Mattr
Mattr is a growth-oriented, global materials technology company broadly serving critical infrastructure markets, including transportation, communication, water management, energy and electrification. Its two business segments, Connection Technologies and Composite Technologies, enable responsible renewal and enhancement of critical infrastructure.
For further information, please contact:
Meghan MacEachern
VP, Investor Relations & External Communications
Tel: 437-341-1848
Email: meghan.maceachern@mattr.com
Website: www.mattr.com
Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities laws, including statements related to the NCIB, the timing and amount of potential purchases and the cancellation of Common Shares under the NCIB and the Plan. Words such as “intend”, “may”, “will”, “should”, “anticipate”, “plan”, “expect”, “believe”, “predict”, “estimate” or similar terminology are used to identify forward-looking information. This forward-looking information is based on assumptions, estimates and analysis made in the light of the Company’s experience and its perception of trends, current conditions and expected developments, as well as other factors that are believed by the Company to be reasonable and relevant in the circumstances. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from those predicted, expressed or implied by the forward-looking information. The forward-looking information is provided as of the date of this news release and the Company does not assume any obligation to update or revise the forward-looking information to reflect new events or circumstances, except as required by law.
Source: Mattr Corp.
FAQ
How many shares can Mattr Corp. (MATR) repurchase under the new NCIB program?
When does Mattr's new share buyback program start and end?
How much did Mattr spend on its previous share buyback program?
What is the daily purchase limit for Mattr's share buyback program?
How will Mattr fund the share buyback program?
