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illumin's Normal Course Issuer Bid Accepted by TSX
illumin Holdings Inc. has received approval from the Toronto Stock Exchange (TSX) to proceed with a normal course issuer bid (NCIB). Under the NCIB, the company can purchase and cancel up to 4,330,226 common shares, representing approximately 10% of illumin's public float. The bid will commence on November 13, 2023, and may continue until November 12, 2024, or until completed or terminated by the company. The shares will be purchased on behalf of the company by a registered broker through the facilities of the TSX and other Canadian trading systems at the prevailing market price.
To facilitate the purchase of shares, illumin has entered into an automatic share purchase plan (ASPP) with its designated broker. The ASPP allows for the purchase of shares during internal trading black-out periods. The purchases will be made based on the parameters set by the company and in accordance with the rules of the TSX and applicable securities laws.
Management believes that purchasing shares when the market price does not fully reflect their underlying value is in the best interests of shareholders. By reducing the number of issued shares, the remaining shareholders' proportionate share interest will increase on a pro-rata basis.
illumin is a journey advertising platform that uses advanced machine learning algorithms and real-time data analytics to enable marketers to reach consumers at every stage of their journey. The company's mission is to connect brands with their customers through data-driven advertising. Headquartered in Toronto, Canada, illumin serves clients across North America, Latin America, and Europe.
For further information, please contact:
Investor Relations Coordinator
illumin Holdings Inc.
Investor Relations – Canada
Virtus Advisory Group Inc.
Investor Relations – U.S.
KCSA Strategic Communications
Source: [Globe Newswire](https://www.globenewswire.com/news-release/2023/11/09/2348740/0/en/illumin-Announces-TSX-Acceptance-of-Normal-Course-Issuer-Bid.html)
A Fresh Perspective on illumin's Normal Course Issuer Bid
illumin Holdings Inc.'s recent approval from the Toronto Stock Exchange (TSX) to proceed with a normal course issuer bid (NCIB) could have significant implications for new businesses. The NCIB allows illumin to purchase and cancel up to 4,330,226 common shares, approximately 10% of its public float. This move, which aims to increase the proportionate share interest of remaining shareholders, demonstrates a strategic approach to managing company shares.
For new businesses, this move by illumin could serve as a valuable lesson in capital management. It shows the potential of using mechanisms like NCIBs to adjust the number of issued shares in line with market conditions and the company's valuation. This could be a viable strategy for new businesses looking to optimize their capital structure and enhance shareholder value.
Moreover, illumin's automatic share purchase plan (ASPP) with its designated broker, which facilitates the purchase of shares during internal trading black-out periods, underscores the importance of having flexible strategies in place to navigate regulatory restrictions and market dynamics. For new businesses, this could mean exploring similar plans that allow for strategic share purchases, thereby ensuring business continuity and growth.