Source: AirBoss of America Corp.
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  • AirBoss (BOS) has announced plans to renew its normal course issuer bid
  • For its current bid that expired on November 29, 2021, it previously sought and received approval from the TSX to repurchase up to 500,000 common shares
  • Airboss has not purchased common shares for cancellation to date over the course of the current Bid
  • As of November 29, 2021, it had 26,993,181 common shares issued and outstanding
  • Airboss is making the Bid because it believes that, from time to time, the market prices of its common shares may not fully reflect the underlying value of its business
  • AirBoss of America Corp. (BOS) is up 0.70 per cent, trading at C$39.88 at 11:44 am EST

AirBoss of America (BOS) has announced plans to renew its normal course issuer bid and the TSX has accepted its Notice of Intention.  

Purchases will be made in the open market in accordance with applicable regulatory requirements.

For its current bid that expired on November 29, 2021, it previously sought and received approval from the TSX to repurchase up to 500,000 common shares. Airboss has not purchased common shares for the cancellation to date over the course of the current bid.

Under the terms of the renewed NCIB, Airboss may re-purchase up to 500,000 of its common shares for cancellation. The renewed bid will commence on December 6, 2021, and remain in effect until the earlier of December 5, 2022, the termination of the Bid by Airboss or if the company purchases the maximum number of common shares permitted under the bid.

As of November 29, 2021, it had 26,993,181 common shares issued and outstanding.

The maximum number of common shares that Airboss may purchase on any trading day is 35,982.

Airboss intends to fund the repurchases out of its available cash. All common shares acquired by Airboss under the Bid will be cancelled.

Purchases will be conducted by a broker engaged by the company to make purchases under the NCIB in accordance with the applicable policies of the TSX. The company has entered into an “automatic share purchase plan” to facilitate the repurchase of common shares under the Bid through the designated broker.

Airboss believes that, from time to time, the market prices of its common shares may not fully reflect the underlying value of its business and its future business prospects.

Such purchases are expected to benefit all remaining shareholders by increasing their equity interest in Airboss.

AirBoss of America is a developer, manufacturer and provider of survivability solutions, advanced custom rubber compounds and finished rubber products that are designed to outperform in the most challenging environments.

The company operates through three divisions. AirBoss Defense Group is a global leader in personal and respiratory protective equipment and technology for the defence, healthcare, medical and first responder communities.

AirBoss of America Corp. (BOS) is up 0.70 per cent, trading at C$39.88 at 11:44 am EST.

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