- EnWave (ENW) announces the renewal of the Normal Course Issuer Bid
- EnWave may acquire up to 10,798,644 common shares, representing 10 per cent of the public float
- The company believes that purchasing and returning its common shares to the treasury means an opportunity to enhance value for its ongoing shareholders
- As of November 21, Enwave had 110,440,055 common shares outstanding
- The prices that EnWave will pay for any of the common shares purchased will be the market price of the shares at the time of acquisition
- EnWave Corporation (ENW) is trading at C$0.45 at 11:26 am EST
EnWave Corporation (ENW) has been granted conditional acceptance of its normal course issuer bid by the TSXV.
EnWave may acquire up to 10,798,644 common shares, representing 10 per cent of the public float of EnWave as of November 21, 2022.
In the opinion of its Board of Directors, its common shares trade at prices that do not reflect the company’s underlying value, including its growing royalty portfolio, financial position and other material commercial opportunities.
The company believes that purchasing and returning its common shares to the treasury represents an opportunity to enhance value for its ongoing shareholders.
As of November 21, Enwave had 110,440,055 common shares outstanding.
Under TSXV policies, EnWave is entitled to purchase up to 2,208,801 shares in any 30 days up to the maximum of 10,798,864 shares.
The purchases will start this week and end on November 23, 2023.
The prices that EnWave will pay for any of the common shares purchased will be the market price of the shares at the time of acquisition.
EnWave is a global leader in the innovation and application of vacuum microwave dehydration.
From its headquarters in Vancouver, BC, EnWave has developed a robust intellectual property portfolio.
EnWave Corporation (ENW) is trading at C$0.45 at 11:26 am EST.
