LFL Announces TSX Approval of Repurchase Programme for Common Shares
Leon's Furniture (TSX: LNF) has received TSX approval for a share repurchase program to buy back up to 3,403,405 common shares, representing 4.99% of its total 68,204,514 outstanding shares as of March 12, 2025.
The program will run from March 21, 2025 to March 20, 2026, with daily purchases to 5,495 shares based on the six-month average daily trading volume of 21,980 shares. Purchases will be executed through the TSX or alternative Canadian trading systems at market price.
The company will implement an automatic share purchase plan (ASPP) with National Bank Financial Inc. effective April 1, 2025, enabling share repurchases during blackout periods. Leon's management believes the current share price is very attractive and considers the buyback a prudent use of capital.
Leon's Furniture (TSX: LNF) ha ricevuto l'approvazione dalla TSX per un programma di riacquisto di azioni volto ad acquistare fino a 3.403.405 azioni ordinarie, che rappresentano il 4,99% delle sue 68.204.514 azioni in circolazione al 12 marzo 2025.
Il programma si svolger脿 dal 21 marzo 2025 al 20 marzo 2026, con acquisti giornalieri fino a 5.495 azioni basati sul volume medio giornaliero di scambi degli ultimi sei mesi di 21.980 azioni. Gli acquisti saranno eseguiti attraverso la TSX o sistemi di trading alternativi canadesi al prezzo di mercato.
L'azienda implementer脿 un piano di acquisto automatico di azioni (ASPP) con National Bank Financial Inc. a partire dal 1 aprile 2025, consentendo il riacquisto di azioni durante i periodi di blackout. La direzione di Leon ritiene che l'attuale prezzo delle azioni sia molto attraente e considera il riacquisto un uso prudente del capitale.
Leon's Furniture (TSX: LNF) ha recibido la aprobaci贸n de la TSX para un programa de recompra de acciones para comprar hasta 3,403,405 acciones comunes, que representan el 4.99% de sus 68,204,514 acciones en circulaci贸n a partir del 12 de marzo de 2025.
El programa se llevar谩 a cabo desde el 21 de marzo de 2025 hasta el 20 de marzo de 2026, con compras diarias de hasta 5,495 acciones, basadas en el volumen promedio diario de negociaci贸n de seis meses de 21,980 acciones. Las compras se ejecutar谩n a trav茅s de la TSX o sistemas de negociaci贸n canadienses alternativos al precio de mercado.
La compa帽铆a implementar谩 un plan de compra autom谩tica de acciones (ASPP) con National Bank Financial Inc. efectivo a partir del 1 de abril de 2025, lo que permitir谩 las recompras de acciones durante los per铆odos de bloqueo. La direcci贸n de Leon cree que el precio actual de las acciones es muy atractivo y considera que la recompra es un uso prudente del capital.
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Leon's Furniture (TSX: LNF) a re莽u l'approbation de la TSX pour un programme de rachat d'actions afin d'acheter jusqu'脿 3 403 405 actions ordinaires, repr茅sentant 4,99 % de ses 68 204 514 actions en circulation au 12 mars 2025.
Le programme se d茅roulera du 21 mars 2025 au 20 mars 2026, avec des achats quotidiens allant jusqu'脿 5 495 actions, bas茅s sur le volume moyen quotidien de n茅gociation des six derniers mois de 21 980 actions. Les achats seront ex茅cut茅s via la TSX ou des syst猫mes de n茅gociation canadiens alternatifs au prix du march茅.
L'entreprise mettra en 艙uvre un plan d'achat automatique d'actions (ASPP) avec National Bank Financial Inc. 脿 compter du 1er avril 2025, permettant des rachats d'actions pendant les p茅riodes de blackout. La direction de Leon estime que le prix actuel des actions est tr猫s attractif et consid猫re le rachat comme une utilisation prudente du capital.
Leon's Furniture (TSX: LNF) hat die Genehmigung der TSX f眉r ein Aktienr眉ckkaufprogramm erhalten, um bis zu 3.403.405 Stammaktien zur眉ckzukaufen, was 4,99% der insgesamt 68.204.514 ausstehenden Aktien zum 12. M盲rz 2025 entspricht.
Das Programm l盲uft vom 21. M盲rz 2025 bis zum 20. M盲rz 2026, mit t盲glichen K盲ufen von bis zu 5.495 Aktien basierend auf dem sechsmonatigen durchschnittlichen t盲glichen Handelsvolumen von 21.980 Aktien. Die K盲ufe werden 眉ber die TSX oder alternative kanadische Handelssysteme zum Marktpreis ausgef眉hrt.
Das Unternehmen wird ab dem 1. April 2025 einen automatischen Aktienr眉ckkaufplan (ASPP) mit National Bank Financial Inc. umsetzen, der den R眉ckkauf von Aktien w盲hrend der Blackout-Perioden erm枚glicht. Das Management von Leon glaubt, dass der aktuelle Aktienkurs sehr attraktiv ist und h盲lt den R眉ckkauf f眉r eine umsichtige Verwendung von Kapital.
- Share buyback program indicates strong cash position and confidence in company value
- 4.99% reduction in outstanding shares could increase earnings per share
- ASPP implementation ensures consistent execution of buyback program
- Capital spent on buybacks reduces cash available for business operations or growth initiatives
Toronto, Ontario--(Newsfile Corp. - March 19, 2025) - Leon's Furniture Limited (TSX: LNF) ("Leon's" or the "Company"), today announced that it has received approval for a common share repurchase program on The Toronto Stock Exchange ("TSX"). The Company intends to repurchase for cancellation a maximum of 3,403,405 Common Shares representing
The bid will commence on March 21, 2025, and terminate on the earliest of the purchase of 3,403,405 Common Shares, the issuer providing a notice of termination, and March 20, 2026.
Purchases will be executed through the facilities of the Toronto Stock Exchange or alternative Canadian trading systems at market price under the normal course issuer bid rules of the Toronto Stock Exchange.
Leon's today also announced that it will be entering into an automatic share purchase plan ("ASPP") with its broker, National Bank Financial Inc. ("National Bank"), in order to facilitate repurchases of common shares under the NCIB effective April 1, 2025.
Under the ASPP for Leon's, National Bank may purchase common shares at times when Leon's ordinarily would not be active in the market due to insider trading rules and its own internal trading blackout periods. Purchases will be made by National Bank based upon parameters set by Leon's prior to the commencement of any such blackout period and in accordance with the terms of the ASPP.
We believe that the current price of our shares is very attractive and deem it to be a prudent use of our capital.
About Leon's Furniture Limited
Leon's Furniture Limited is the largest retailer of furniture, appliances and electronics in Canada. Our retail banners include: Leon's; The Brick; Brick Outlet; and The Brick Mattress Store. Finally, with The Brick's Midnorthern Appliance banner alongside with Leon's Appliance Canada banner, this makes the Company the country's largest commercial retailer of appliances to builders, developers, hotels and property management companies. The Company has 299 retail stores from coast to coast in Canada under various banners. The Company operates six websites: , , , , and .
For further information, please contact:
| Victor Diab Chief Financial Officer Leon's Furniture Limited Tel: (416) 243-4073 | Jonathan Ross LodeRock Advisors, Leon's Investor Relations [email protected] Tel: (416) 283-0178 |
SOURCE Leon's Furniture Limited
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FAQ
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What is the purpose of Leon's Furniture (LEFUF) automatic share purchase plan with National Bank?
