REGINA, SK - SSC Security Services Corp. ("SSC" or the "Company") (TSXV: SECU) (OTCQX: SECUF), a leading provider of cyber, physical and electronic security services, announced today its intention, and its receipt of all required regulatory approvals including approval by the TSX Venture Exchange, to make a normal course issuer bid (the "Bid") for up to 1,200,000 of its Class A common shares (the "Shares"), representing approximately 10% of SSC's public float.
The Bid will commence on January 4, 2023 and continue until the earlier of January 3, 2024 and the date by which SSC has acquired the maximum 1,200,000 Shares which may be purchased under the Bid. The Bid will be made through the facilities of the TSX Venture Exchange, or such other "designated exchange" as that term is defined by applicable Canadian securities laws, and the purchase and payment for the Shares will be made in accordance with TSX Venture Exchange requirements, or such other designated exchange, at the market price of the Shares at the time of acquisition. All Shares purchased by SSC under the Bid will be cancelled.
SSC has appointed CIBC Capital Markets as its broker to conduct the normal course issuer bid transactions.
Management of SSC believes that the Shares have been trading in a price range which does not adequately reflect their value and that the purchase of the Shares under the Bid will enhance shareholder value in general.
Source : Newswire.ca