Power Up: Boralex’s Latest Move to Boost Shareholder Value through Normal Course Issuer Bid
MONTREAL, Feb. 28, 2025 (GLOBE NEWSWIRE) —
Boralex Inc. (“Boralex” or the “Company”) (TSX: BLX) today announced that it has authorized, and the Toronto Stock Exchange (the “TSX”) has approved, a normal course issuer bid (the “NCIB”) to purchase for cancellation up to 8,669,245 Class A shares of Boralex (the “Common Shares”) over the twelve-month period commencing on March 4, 2025, and ending no later than March 3, 2026, representing approximately 10% of the “public float” (as defined in the TSX Company Manual) of the Common Shares issued and outstanding as at February 19, 2025. As of such date, there were 102,766,580 Common Shares issued and outstanding. Subject to the required regulatory approvals, the NCIB will be conducted through the facilities of the TSX or alternative trading systems in Canada, if eligible, or outside the facilities of the TSX pursuant to exemption orders issued by securities regulatory authorities. Common Shares will be acquired under the NCIB at the prevailing market price at the time of acquisition, plus brokerage fees, except that any purchases made under an issuer bid exemption order will be at a discount to the prevailing market price as per the terms of the order. Any Common Share purchased under the NCIB will be canceled.
Effect on Me:
The recent announcement by Boralex Inc. regarding the normal course issuer bid could have an impact on individual shareholders. The purchase and cancellation of up to 8,669,245 Class A shares of Boralex will likely lead to an increase in shareholder value. Shareholders may see an appreciation in the value of their holdings as a result of this strategic move by the company. It is important for shareholders to stay informed about the developments and decisions made by the company to make informed decisions regarding their investments.
Effect on the World:
Boralex’s decision to initiate a normal course issuer bid can have broader implications for the world economy. By boosting shareholder value, the company is demonstrating a commitment to maximizing returns for investors. This move could attract more investors to the renewable energy sector, leading to increased interest and investment in sustainable energy sources. As the world continues to focus on environmental sustainability, initiatives like the NCIB by Boralex could contribute to the global shift towards cleaner and greener energy options.
Conclusion:
In conclusion, Boralex’s latest move to boost shareholder value through the normal course issuer bid is a strategic decision that can have positive implications for both individual shareholders and the world at large. By enhancing shareholder value, the company is not only rewarding its investors but also contributing to the broader goal of promoting sustainable energy solutions. It will be interesting to see how this initiative unfolds over the next twelve months and the potential impact it may have on the renewable energy sector and the global economy.
