Dominion Lending buys 709,247 A shares for cancellation

Executive Summary

• Dominion Lending Centres Inc. (DLC Group) executed a block share repurchase, acquiring 709,247 Class A common shares for cancellation.
• The transaction was completed pursuant to Section 4.7 of National Instrument 62-104, involving the acquisition of shares from a former employee.
• The company stated the move aligns with its capital allocation strategy to return value to shareholders through buybacks and dividends.

Key Details

• Shares Repurchased: 709,247 Class A common shares.
• Total Purchase Price: $6,205,911.
• Price Per Share: $8.75.
• Purpose of Repurchase: Cancellation of shares.
• Counterparty: A former employee of the corporation.
• Regulatory Basis: Acquired pursuant to Section 4.7 of National Instrument 62-104, Take-Over Bids and Issuer Bids.
• Strategic Context: Chairman and CEO Gary Mauris noted the transaction aligns with the company's capital allocation strategy and focus on prudently returning capital to shareholders.

Notable Quotes

• "We are pleased to have the opportunity to purchase a sizable block of shares for cancellation. This transaction aligns with our capital allocation strategy and represents a unique opportunity to create value for our shareholders. As we move forward, we remain focused on the growth of our business while at the same time prudently returning capital to shareholders through both dividends and share buybacks," — Gary Mauris, Chairman and Chief Executive Officer, DLC Group.