Elysee Announces Normal Course Issuer Bid
Elysee Development Corp (TSXV: ELC) has announced a new normal course issuer bid (NCIB) to purchase and cancel up to 1,411,751 common shares, representing approximately 4.99% of outstanding shares and 6.40% of the public float. The buyback program will run from May 13, 2025 to May 12, 2026, replacing the current NCIB expiring May 12, 2025. Research Capital Corporation will conduct the purchases at prevailing market prices through the TSX Venture Exchange.
During the previous 12 months, Elysee purchased 130,000 shares at a weighted average price of $0.2827 per share. Management believes the current share price undervalues the company and expects the buyback to benefit remaining shareholders by increasing their proportionate ownership while improving share liquidity.
Elysee Development Corp (TSXV: ELC) ha annunciato un nuovo programma di riacquisto di azioni ordinarie (NCIB) per acquistare e cancellare fino a 1.411.751 azioni ordinarie, pari a circa il 4,99% delle azioni in circolazione e al 6,40% del flottante pubblico. Il programma di riacquisto sar脿 attivo dal 13 maggio 2025 al 12 maggio 2026, sostituendo l'attuale NCIB in scadenza il 12 maggio 2025. Research Capital Corporation effettuer脿 gli acquisti ai prezzi di mercato vigenti attraverso la TSX Venture Exchange.
Negli ultimi 12 mesi, Elysee ha acquistato 130.000 azioni a un prezzo medio ponderato di $0,2827 per azione. La direzione ritiene che il prezzo attuale delle azioni sottovaluti la societ脿 e prevede che il riacquisto avvantagger脿 gli azionisti rimanenti aumentando la loro quota proporzionale e migliorando la liquidit脿 delle azioni.
Elysee Development Corp (TSXV: ELC) ha anunciado una nueva oferta p煤blica de recompra normal (NCIB) para comprar y cancelar hasta 1.411.751 acciones ordinarias, lo que representa aproximadamente el 4,99% de las acciones en circulaci贸n y el 6,40% del flotante p煤blico. El programa de recompra se llevar谩 a cabo desde el 13 de mayo de 2025 hasta el 12 de mayo de 2026, reemplazando el NCIB actual que vence el 12 de mayo de 2025. Research Capital Corporation realizar谩 las compras al precio de mercado vigente a trav茅s de la Bolsa de Valores TSX Venture.
Durante los 煤ltimos 12 meses, Elysee compr贸 130.000 acciones a un precio promedio ponderado de $0,2827 por acci贸n. La direcci贸n considera que el precio actual de la acci贸n subvalora la empresa y espera que la recompra beneficie a los accionistas restantes al aumentar su participaci贸n proporcional y mejorar la liquidez de las acciones.
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Elysee Development Corp (TSXV : ELC) a annonc茅 un nouveau programme de rachat d'actions ordinaires (NCIB) visant 脿 acheter et annuler jusqu'脿 1 411 751 actions ordinaires, repr茅sentant environ 4,99 % des actions en circulation et 6,40 % du flottant public. Le programme de rachat s'茅tendra du 13 mai 2025 au 12 mai 2026, rempla莽ant l'actuel NCIB arrivant 脿 茅ch茅ance le 12 mai 2025. Research Capital Corporation effectuera les achats aux prix du march茅 en vigueur via la TSX Venture Exchange.
Au cours des 12 derniers mois, Elysee a rachet茅 130 000 actions 脿 un prix moyen pond茅r茅 de 0,2827 $ par action. La direction estime que le cours actuel sous-茅value la soci茅t茅 et s'attend 脿 ce que ce rachat profite aux actionnaires restants en augmentant leur part proportionnelle tout en am茅liorant la liquidit茅 des actions.
Elysee Development Corp (TSXV: ELC) hat eine neue regul盲re Aktienr眉ckkaufaktion (NCIB) angek眉ndigt, um bis zu 1.411.751 Stammaktien zu kaufen und zu annullieren, was etwa 4,99 % der ausstehenden Aktien und 6,40 % des Streubesitzes entspricht. Das R眉ckkaufprogramm l盲uft vom 13. Mai 2025 bis zum 12. Mai 2026 und ersetzt das aktuelle NCIB, das am 12. Mai 2025 ausl盲uft. Research Capital Corporation wird die K盲ufe zu den jeweiligen Marktpreisen 眉ber die TSX Venture Exchange durchf眉hren.
In den vergangenen 12 Monaten hat Elysee 130.000 Aktien zu einem gewichteten Durchschnittspreis von 0,2827 $ pro Aktie gekauft. Das Management ist der Ansicht, dass der aktuelle Aktienkurs das Unternehmen unterbewertet, und erwartet, dass der R眉ckkauf den verbleibenden Aktion盲ren zugutekommt, indem er deren anteiligen Besitz erh枚ht und die Aktienliquidit盲t verbessert.
- Share buyback of up to 1,411,751 shares (4.99% of outstanding shares) demonstrates management's confidence in company value
- Program funded from existing working capital, indicating strong cash position
- Previous buyback successfully executed with 130,000 shares purchased at $0.2827 average price
- Initiative aims to enhance shareholder value and increase liquidity
- Reduction in working capital due to share repurchases
- Decreased public float could potentially reduce trading volume
Vancouver, British Columbia--(Newsfile Corp. - May 7, 2025) - Elysee Development Corp. (TSXV: ELC) (the "Company") announces today its intention to make a normal course issuer bid (the "Bid") to purchase for cancellation, from time to time, as it considers advisable, up to 1,411,751 of its issued and outstanding common shares, being approximately
The Bid will be conducted in accordance with applicable securities laws and the policies of the Exchange. Purchases will be made on the open market through the facilities of the Exchange. The price which the Company will pay for any shares purchased by it will be the prevailing market price of such common shares on the Exchange at the time of such purchase. The purchase of the common shares under the Bid is being funded from existing working capital.
During the previous 12 months, the Company purchased 130,000 of its common shares pursuant to a normal course issuer bid during the previous 12 months. The weighted average price paid per common share was
Management and the directors of the Company believe that the current and recent market price of the Company's common shares does not give full effect to their underlying value and that, accordingly, the purchase of common shares under the Bid will increase the proportionate share interest of, and be advantageous to, all remaining shareholders. Purchases of Bid Shares pursuant to the Bid will also afford an increased degree of liquidity to the Company's shareholders who would like to trade their shares and will serve to stabilize the market price for the Company's shares.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Guido Cloetens
Chief Executive Officer
Elysee Development Corp.
Tel: (778) 373-1562
Neither the TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the Bid. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf, except as required by applicable law.
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FAQ
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