Pason Systems Inc. Announces Renewal of Normal Course Issuer Bid

Executive Summary

• Pason Systems Inc. announced that the TSX has accepted its Notice of Intention to commence a 2026 Normal Course Issuer Bid (NCIB), renewing the existing program.
• Under the new NCIB, Pason may repurchase up to 6,944,596 common shares (≈10% of the public float) between Dec 20 2025 and Dec 19 2026, with daily purchase limits and a weekly block‑purchase exception.
• The company has already repurchased 1,690,200 shares for $20.8 million at an average price of $12.28 per share under the prior 2025 NCIB and will also enter an automatic purchase plan to allow broker‑executed buys during blackout periods.

Key Details

• NCIB Timeline:
• 2026 NCIB starts Dec 20 2025, ends Dec 19 2026 (or earlier if completed/terminated).
• Maximum Shares Repurchasable:
• Up to 6,944,596 common shares (≈10% of the public float as of Dec 8 2025).
• Public Float Reference:
• 69,445,963 common shares outstanding on Dec 8 2025; total issued and outstanding 77,903,871 shares.
• Purchase Limits:
• Daily limit: 48,622 shares (≈25% of average daily volume for the six months ended Nov 30 2025).
• One block purchase per calendar week may exceed the daily limit.
• Pricing Method:
• Purchases will be made at the prevailing market price on the TSX at the time of each transaction.
• Previous NCIB Activity (2025):
• Repurchased and cancelled 1,690,200 shares for $20.8 million; average purchase price ≈ $12.28 per share.
• Automatic Purchase Plan:
• Concurrently with the 2026 NCIB launch, Pason will enter an automatic purchase plan authorizing a broker to buy shares on its behalf during trading blackout periods as defined by its insider‑trading policy.
• Strategic Rationale:
• The share repurchase program is presented as a flexible mechanism for returning capital to shareholders and supporting the company’s broader capital allocation strategy.

Notable Quotes

(No direct quotes were provided in the release.)