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TORONTO, May 23, 2023
/CNW/ - Cymbria Corporation (TSX: CYB) ("Cymbria") announced today
that it has filed a notice with the Toronto Stock Exchange ("TSX")
and received its approval to make a Normal Course Issuer Bid
("NCIB"). This permits Cymbria to
purchase for cancellation up to 1,616,273 non-voting,
non-redeemable Class A Shares (the "Shares") representing 10% of
Cymbria's public float of Shares
as of May 12, 2023. As of
May 12, 2023, Cymbria had a total of 16,300,813
Shares issued and outstanding.
Cymbria may buy back Shares
from time to time during the twelve-month period beginning on
May 25, 2023, and ending on
May 24, 2024. All Class A Shares will
be purchased on the open market through the facilities of the TSX
and/or through alternative Canadian trading systems.
In accordance with TSX rules, Cymbria can purchase a maximum of
326,016 Shares during a 30-day period, subject to certain TSX
exceptions.
Cymbria is implementing the
NCIB to allow it to purchase Shares if and when it makes sense to
do so. Decisions regarding the timing of future purchases of Shares
will be based on market conditions, share price and other
factors.
Pursuant to a previous notice of intention to conduct a normal
course issuer bid, under which Cymbria sought and received approval from the
TSX to purchase up to 1,618,624 Class A Shares for the period of
May 25, 2022, to May 24, 2023, Cymbria bought back 57,800 Class A Shares at a
weighted average price of $57.33.
ABOUT CYMBRIA CORPORATION
Cymbria's investment objective
is to provide shareholders with long-term capital appreciation
through an actively managed portfolio comprised primarily of global
equities and an investment in EdgePoint Wealth Management Inc.
Cymbria began trading on the TSX
on November 4, 2008, under the symbol
CYB.
SOURCE Cymbria Corporation
