Miniluxe Holding Corp. (TSE:MNLX) has released an update.
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MiniLuxe Holding Corp. has announced plans to initiate a normal course issuer bid (NCIB) to repurchase up to 2,800,000 of its Class A subordinate voting shares, about 5% of its current shares, starting March 6, 2024. This strategic move, subject to TSX Venture Exchange approval, is based on the belief that the company’s stock is undervalued and aims to enhance shareholder value. All acquired shares through this program will be cancelled, and the buyback is expected to conclude by March 6, 2025, or earlier upon reaching the target or termination notice by the company.
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