Canadian Large Cap Leaders Split Corp. Receives Approval for Normal Course Issuer Bid

Yahoo

04-06-2025

[Not for distribution to United States newswire services or for dissemination in the United States]
TORONTO, June 04, 2025 (GLOBE NEWSWIRE) -- Ninepoint Partners LP ('Ninepoint'), on behalf of Canadian Large Cap Leaders Split Corp. (the 'Company') (TSX: NPS/NPS.PR.A), announced today that the Toronto Stock Exchange (the 'TSX') has accepted its notice of intention to make a normal course issuer bid (the 'NCIB') to purchase its class A shares ('Class A Shares') and preferred shares ('Preferred Shares') through the facilities of the TSX and alternative trading systems in Canada. The NCIB will commence on June 9, 2025 and terminate on June 8, 2026.
Pursuant to the NCIB, the Company proposes to purchase, from time to time, up to 176,492 Class A Shares and 176,492 Preferred Shares of the Company, representing 10% of the public float of 1,764,915 Class A Shares and 1,764,915 Preferred Shares. As of June 4th, 2025, there were 1,764,915 Class A Shares and 1,764,915 Preferred Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 35,298 Class A Shares or more than 35,298 Preferred Shares, being 2% of the issued and outstanding Class A Shares and Preferred Shares as of June 4th, 2025.
Under Ninepoint Partners prior NCIB, which commenced on May 28, 2024 and ended on May 27, 2025, Ninepoint Partners obtained approval to purchase up to a total of 209,947 Common Shares, reflecting a security split that took effect on Feb 4, 2025, and 182,563 Preferred Shares, of which 49,450, on the post-split basis, Common Shares, and 43,000 Preferred Shares were purchased through the facilities of the TSX at a weighted-average price of approximately $10.39, on the post-split basis, per Common Share, and $10.45 for Preferred Shares.
Ninepoint, the manager of the Company, believes that such purchases are in the best interests of the Company and are a desirable use of its funds. All purchases will be made through the facilities noted above and in accordance with the rules and policies of the TSX. All Class A Shares or Preferred Shares purchased by the Company pursuant to the NCIB will be cancelled.
About Ninepoint Partners LPBased in Toronto, Ninepoint Partners LP is one of Canada's leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.
For more information on Ninepoint, please visit www.ninepoint.com or for inquiries regarding the Offering, please contact us at [phone] or [phone] or [e-mail].
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions 'expects', 'intends', 'anticipates', 'will' and similar expressions to the extent that they relate to the Company. The forward-looking statements are not historical facts but reflect Ninepoint's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Ninepoint believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Company nor Ninepoint undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.Sign in to access your portfolio