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Be the first with the news that moves the market- WELL Health has entered into an automatic share purchase plan to facilitate share repurchases
- Under its normal course issuer bid (NCIB), the company may purchase up to 2.5 per cent of its shares between June 5, 2023 and June 4, 2024
- The bid is indicative of a potential value play, according to management analysis
- WELL Health Technologies is a practitioner-focused digital health care company active in Canada and the U.S.
- WELL Health stock (TSX:WELL) last traded at $4.86 per share
WELL Health has entered into an automatic share purchase plan to facilitate share repurchases.
Under its NCIB, which runs from June 5, 2023 to June 4, 2024, the company may purchase up to 5,884,589 of its common shares, representing approximately 2.5 per cent of shares issued and outstanding.
Share purchases will be based upon parameters set by WELL management. These include facilitation of an orderly market and capitalizing on shares inadequately reflecting WELL’s underlying value.
WELL’s broker may purchase shares when the company would not be active in the market due to insider trading rules, as well as its own internal trading blackout periods.
To the knowledge of the company, no director, senior officer, or other insider or any of their associates intends to sell shares under the bid.
WELL Health Technologies is a practitioner-focused digital health care company active in Canada and the U.S.
WELL Health stock (TSX:WELL) last traded at $4.86 per share.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
