Ackroo Launches Share Buyback Initiative

Ackroo Inc (TSE:AKR) has released an update.

Ackroo Inc. has announced the initiation of its Normal Course Issuer Bid (NCIB), approved by the TSX Venture Exchange, allowing the repurchase and cancellation of up to 5.0% of its outstanding shares over the next year. The buyback program, which will be funded from working capital, is set to start on July 8, 2024, with the potential acquisition of shares capped at 2.0% within any 30-day period. Ackroo’s strategy aims to enhance shareholder value following a previous successful NCIB where over 6 million shares were bought back and cancelled.

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