NexLiving Communities Inc (TSE:NXLV) has released an update.
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NexLiving Communities Inc. has announced the conditional approval of its Normal Course Issuer Bid by the TSX Venture Exchange, which allows the company to repurchase up to 1.3 million shares, representing 9.8% of its public float. This share buyback program, set to run from May 31, 2024, to May 30, 2025, aims to enhance shareholder value, reflecting the Board’s belief that the current share price may not fully represent the company’s business value and future prospects. Funded by the company’s working capital, the repurchased shares will be cancelled, and the program will be conducted on the open market through the Exchange’s facilities.
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