DIRTT Announces Normal Course Issuer Bid for Debentures
DIRTT Environmental Solutions (OTC: DRTTF) has received TSX approval to renew its normal course issuer bid (NCIB) for two series of convertible debentures. The company can purchase up to C$1.66 million of January Debentures (6.00%, due January 2026) and C$1.49 million of December Debentures (6.25%, due December 2026), representing 10% of each debenture's public float.
The NCIB will commence on August 28, 2025, with daily purchase limits of C$99,092 for January Debentures and C$350,552 for December Debentures. Under the previous 2024 NCIB, DIRTT has purchased C$73,000 of January Debentures and C$652,000 of December Debentures. The company plans to implement issuer repurchase (IRPA) and automatic repurchase (ARPP) agreements to facilitate purchases during blackout periods.
DIRTT Environmental Solutions (OTC: DRTTF) ha ottenuto l'approvazione della TSX per rinnovare il suo programma di riacquisto azionario nel corso normale (NCIB) relativo a due serie di obbligazioni convertibili. La società può acquistare fino a 1,66 milioni di C$ di Debentures di gennaio (6,00%, scadenza gennaio 2026) e fino a 1,49 milioni di C$ di Debentures di dicembre (6,25%, scadenza dicembre 2026), pari al 10% del flottante pubblico di ciascuna serie.
Il NCIB avrà inizio il 28 agosto 2025, con limiti giornalieri di acquisto pari a C$99.092 per le Debentures di gennaio e C$350.552 per quelle di dicembre. Nell'ambito del precedente NCIB 2024, DIRTT ha acquistato C$73.000 di Debentures di gennaio e C$652.000 di Debentures di dicembre. La società intende utilizzare accordi di riacquisto dell'emittente (IRPA) e riacquisto automatico (ARPP) per facilitare gli acquisti durante i periodi di blackout.
DIRTT Environmental Solutions (OTC: DRTTF) ha recibido la aprobación de la TSX para renovar su programa de recompra en curso (NCIB) para dos series de bonos convertibles. La compañía puede comprar hasta C$1,66 millones de los Debentures de enero (6,00%, vencimiento enero 2026) y hasta C$1,49 millones de los Debentures de diciembre (6,25%, vencimiento diciembre 2026), lo que representa el 10% del float público de cada serie.
El NCIB comenzará el 28 de agosto de 2025, con límites diarios de compra de C$99.092 para los Debentures de enero y de C$350.552 para los de diciembre. Bajo el NCIB anterior de 2024, DIRTT adquirió C$73.000 en Debentures de enero y C$652.000 en Debentures de diciembre. La compañía planea implementar acuerdos de recompra del emisor (IRPA) y de recompra automática (ARPP) para facilitar las compras durante los periodos de blackout.
DIRTT Environmental Solutions (OTC: DRTTF)� � 종류� 전환사채� 대� 통상 매입 프로그램(NCIB) 갱신� 위해 TSX� 승인� 받았습니�. 회사� 1� 채권(이표 6.00%, 만기 2026� 1�) 최대 166� 캐나다달�(C$)와 12� 채권(이표 6.25%, 만기 2026� 12�) 최대 149� 캐나다달�(C$)까지 매입� � 있으�, 이는 � 채권 공개 유통물량� 10%� 해당합니�.
� 2025� 8� 28�� 시작되며, 1� 채권� 일일 매입 한도� C$99,092, 12� 채권은 C$350,552입니�. 2024� 이전 NCIB에서� DIRTT가 1� 채권� C$73,000, 12� 채권� C$652,000 매입했습니다. 회사� 블랙아웃 기간 동안 매입� 용이하게 하기 위해 발행� 재매� 계약(IRPA) � 자동 재매� 계약(ARPP)� 도입� 계획입니�.
DIRTT Environmental Solutions (OTC: DRTTF) a obtenu l'approbation de la TSX pour renouveler son programme de rachat dans le cours normal (NCIB) concernant deux séries d'obligations convertibles. La société peut racheter jusqu'à 1,66 M$ CA d'obligations de janvier (6,00 %, échéance janvier 2026) et jusqu'à 1,49 M$ CA d'obligations de décembre (6,25 %, échéance décembre 2026), soit 10 % du flottant public de chaque série.
Le NCIB débutera le 28 août 2025, avec des limites d'achat quotidiennes de C$99 092 pour les obligations de janvier et de C$350 552 pour celles de décembre. Dans le cadre du NCIB précédent de 2024, DIRTT a racheté C$73 000 d'obligations de janvier et C$652 000 d'obligations de décembre. La société prévoit de mettre en place des accords de rachat par l'émetteur (IRPA) et des accords de rachat automatiques (ARPP) pour faciliter les achats pendant les périodes de blackout.
DIRTT Environmental Solutions (OTC: DRTTF) hat die Genehmigung der TSX erhalten, sein reguläres Rückkaufprogramm (NCIB) für zwei Serien wandelbarer Schuldverschreibungen zu verlängern. Das Unternehmen kann bis zu 1,66 Mio. C$ der Januar-Debentures (6,00 %, fällig Januar 2026) und bis zu 1,49 Mio. C$ der Dezember-Debentures (6,25 %, fällig Dezember 2026) erwerben, jeweils 10 % des öffentlichen Free Floats jeder Serie.
Das NCIB beginnt am 28. August 2025 mit täglichen Kaufobergrenzen von C$99.092 für die Januar-Debentures und C$350.552 für die Dezember-Debentures. Im Rahmen des vorherigen NCIB 2024 hat DIRTT C$73.000 an Januar-Debentures und C$652.000 an Dezember-Debentures erworben. Das Unternehmen beabsichtigt, Emittentenrückkauf- (IRPA) und automatische Rückkaufvereinbarungen (ARPP) einzusetzen, um Käufe während Blackout-Perioden zu ermöglichen.
- Strategic flexibility to repurchase debentures at market prices
- Automatic repurchase plan allows for continued buybacks during blackout periods
- Company demonstrates financial capacity to reduce outstanding debt
- Significant cash outlay required for debenture repurchases could impact working capital
- Limited trading volume may restrict actual repurchase capabilities
CALGARY, Alberta, Aug. 26, 2025 (GLOBE NEWSWIRE) -- DIRTT Environmental Solutions Ltd. (TSX: DRT; OTC: DRTTF) ("DIRTT" or the "Company"), a leader in industrialized construction, announced today that the Toronto Stock Exchange ("TSX") has accepted DIRTT’s notice of intention to renew its normal course issuer bid (the "NCIB") for DIRTT's
Under the renewed NCIB, DIRTT is permitted to acquire up to C
Under the 2024 NCIB, the Company sought and obtained approval from the TSX to purchase C
In connection with the NCIB, DIRTT expects to enter into an issuer repurchase plan agreement ("IRPA") and an automatic repurchase plan agreement ("ARPP") in relation to purchases made under the NCIB. The IRPA and ARPP have been pre-cleared by the TSX and are expected to be implemented on August 28, 2025. The ARPP is intended to facilitate repurchases of Debentures under the NCIB at times when DIRTT would ordinarily not be permitted to make purchases due to regulatory restriction or customary self-imposed blackout periods. Before the commencement of any particular trading black-out period, and provided that DIRTT is not in possession of material non-public information about itself or its securities, DIRTT may, but is not required to, instruct its designated broker to make purchases of Debentures under the NCIB during the ensuing black-out period in accordance with the terms of the ARPP. The timing and amount of such purchases will be determined by the designated broker at its sole discretion based on the purchasing parameters set by DIRTT and in accordance with the rules of the TSX, applicable securities laws and the terms of the ARPP. All purchases of Debentures made under the IRPA and ARPP will be included in determining the aggregate number of Debentures purchased under the NCIB. If adopted, the ARPP will constitute an "automatic securities purchase plan" under applicable Canadian securities law, and will be adopted in accordance with applicable U.S. securities laws, including the requirements of Rule 10b5-1 under the U.S. Securities Exchange Act of 1934. Outside of pre-determined blackout periods, Debentures may be purchased under the NCIB based on management's discretion, subject to TSX rules and applicable securities laws in Canada and the United States.
ABOUT DIRTT
DIRTT is a leader in industrialized construction. DIRTT’s system of physical products and digital tools empowers organizations, together with construction and design leaders, to build high-performing, adaptable, interior environments. Operating in the workplace, healthcare, education, and public sector markets, DIRTT’s system provides total design freedom, and greater certainty in cost, schedule, and outcomes. DIRTT’s interior construction solutions are designed to be highly flexible and adaptable, enabling organizations to easily reconfigure their spaces as their needs evolve. Headquartered in Calgary, AB Canada, DIRTT trades on the TSX under the symbol “DRT� and on the OTCQX under the symbol "DRTTF".
FOR FURTHER INFORMATION, PLEASE CONTACT
DIRTT Investor Relations at
FORWARD-LOOKING STATEMENTS
Certain statements contained in this news release are “forward-looking statements� within the meaning of “safe harbor� provisions of the United States Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934 and “forward-looking information� within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact included in this news release are forward-looking statements. When used in this news release, the words “anticipate,� “expect,� “intend,� “may,� “will,� “should,� “would,� “could,� “can,� the negatives thereof, variations thereon and other similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain such identifying words. In particular, and without limitation, this news release contains forward-looking information pertaining to the NCIB, the principal amount of Debentures to the acquired under the NCIB, the method of purchase, price and cancellation of Debentures, and reasons for and benefits of any purchases made under the NCIB.
Forward-looking statements are based on certain estimates, beliefs, expectations, and assumptions made in light of management’s experience and perception of historical trends, current conditions and expected future developments, as well as other factors that may be appropriate. Forward-looking statements necessarily involve unknown risks and uncertainties, which could cause actual results or outcomes to differ materially from those expressed or implied in such statements. Due to the risks, uncertainties, and assumptions inherent in forward-looking information, you should not place undue reliance on forward-looking statements. Factors that could have a material adverse effect on our business, financial condition, results of operations and growth prospects include, but are not limited to, risks described under the section titled “Risk Factors� in our Annual Report on Form 10-K for the year ended December 31, 2024, and in our subsequently filed Quarterly Reports on Form 10-Q and also in the Company’s other continuous disclosure filings available under the Company’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. Our past results of operations are not necessarily indicative of our future results. You should not rely on any forward-looking statements, which represent our beliefs, assumptions and estimates only as of the dates on which they were made, as predictions of future events. We undertake no obligation to update these forward-looking statements, even though circumstances may change in the future, except as required under applicable securities laws. We qualify all of our forward-looking statements by these cautionary statements.
