Melcor Developments (MODVF) announced that the Toronto Stock Exchange has accepted its notice of intention to make a normal course issuer bid through the facilities of the TSX and on alternative trading systems. The notice provides that Melcor may, during the twelve-month period commencing June 10, 2025 and ending June 9, 2026, purchase for cancellation up to 1,511,087 common shares in total, being approximately 5% of its issued and outstanding common shares. The daily repurchase restriction for the common shares is 1,466. The price which Melcor will pay for any such common shares will be the market price at the time of acquisition. The actual number of common shares which may be purchased and the timing of any such purchases will be subject to compliance with the TSX guidelines. Under the previous normal course issuer bid, through May 31, 2025 344,248 common shares were purchased for cancellation through the facilities of the TSX, CHI-X Canada and MATCH Now at a weighted average price per common share of $12.5877. As of May 31, 2025, there were 30,221,745 common shares of Melcor outstanding and the average daily trading volume for the six-month period ending May 31, 2025 was 5,867.
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