#Canada #Montreal #Normal Course Issuer Bid #Haivision #TSX HAI

Haivision Systems Inc. Renewed Normal Course Issuer Bid

On January 27, 2025, Haivision Systems Inc. (TSX: HAI), a prominent player in real-time video networking and collaboration solutions, shared exciting news regarding the renewal of its Normal Course Issuer Bid (NCIB). This move, sanctioned by the Toronto Stock Exchange (TSX), aims to improve shareholder value by potentially purchasing back up to 1,924,404 shares, which represents 10% of the company's public float as of January 15, 2025.

The management at Haivision believes that market fluctuations sometimes undervalue their common shares, making this renewal of the NCIB not just beneficial but necessary. With 28,171,565 shares currently outstanding, this strategic buyback is expected to underline the company's commitment to its shareholders and enhance its stock performance in the market.

Details Regarding the Share Buyback

Under the revamped NCIB structure, the company may initiate its share purchases starting January 29, 2025. The final date for these transactions is pegged at January 28, 2026, or when the maximum allowable number of shares has been repurchased.

Historically, from their previous NCIB, which concluded on January 21, 2025, Haivision had the authority to purchase up to 2,007,521 shares and completed a total of 843,000 purchases at an average price of $4.37 per share. This discerning approach to share buybacks illustrates Haivision's efforts to maintain shareholder confidence and uphold its market position.

Trading Guidelines

Following TSX regulations, Haivision can purchase up to 8,486 shares daily, with provisions for block purchases as allowed by the exchange. All acquired shares through the NCIB will be canceled, thereby reducing the overall share count and potentially increasing value for remaining shareholders.

Additionally, Haivision has instituted an Automatic Share Purchase Plan (ASPP) with its designated broker to make these acquisitions during specific trading black-out periods. This ensures that purchases continue seamlessly according to the guidelines set by TSX even when the company isn't actively engaging in the market.

The Importance of the NCIB

The renewal of the NCIB comes at a crucial time for Haivision as the company aims to fortify its financial position amidst a dynamic market landscape. By re-engaging in share buybacks, Haivision not only reinforces its commitment to its investors but also aims to enhance the overall trading performance of its shares.

This foresight in managing share valuations is paramount for maintaining investor trust and promoting market confidence. Haivision's strategic decisions in this area are elucidated through its accolades, including four Emmy® awards in Technology and Engineering, showcasing its prowess and leading edge in innovative video solutions.

Conclusion

As Haivision prepares to implement its renewed NCIB, it stands to further solidify its role as a leader in providing real-time video solutions across the globe. The strategic purchase of shares emphasizes Haivision's commitment to shareholder value, aligning with its broader mission of maintaining high standards in visual collaboration and video networking technology. By executing this NCIB, Haivision is poised to navigate the complex financial landscape, ensuring a sustainable and profitable future for its stakeholders.