- TWC Enterprises Limited has received approval to renew its normal course issuer bid
- Over the next 12 months, TWC may purchase up to 1,227,396 common shares
- Under the current NCIB, TWC purchased 879,918 common shares for cancellation at an average cost per share of $15.51
- The NCIB is expected to benefit all TWC shareholders by increasing their proportionate interest in TWC
- TWC manages golf clubs at 37 locations in Ontario, Quebec and Florida
- TWC Enterprises Limited (TWC) is unchanged, trading at C$17.00 per share at 11 am ET
TWC Enterprises Limited (TWC) has received approval to renew its normal course issuer bid.
TWC may during the twelve-month period commencing September 20, 2021 purchase up to 1,227,396 common shares in total. The price that TWC will pay for any shares will be the market price at the time of acquisition.
Under the current normal course issuer bid due to expire September 19, TWC purchased 879,918 common shares for cancellation at an average cost per share of $15.51. As of September 14, 2021, there were 24,547,924 common shares outstanding. Daily purchases will be limited to 1,000 common shares, other than block purchase exceptions.
TWC believes that its shares have been trading in price ranges that do not reflect their value in relation to the business of TWC and its future business prospects. TWC believes that its outstanding common shares may represent an attractive investment. The purchases are expected to benefit all TWC shareholders by increasing their proportionate interest in TWC. All common shares purchased by TWC under the normal course issuer bid will be cancelled.
Operating under the trademark, “ClubLink One Membership More Golf.” TWC owns and manages golf clubs at 37 locations in Ontario, Quebec and Florida.
TWC Enterprises Limited (TWC) is unchanged, trading at C$17.00 per share at 11 am ET.
