CES Energy Solutions Corp. Announces Renewal of Normal Course Issuer Bid and Provides Q2 Conference Call Details
CES Energy Solutions Corp. (“CES” or the “Corporation”) (TSX: CEU and OTC: CESDF) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted CES’ notice of its intention to implement a normal course issuer bid (“NCIB”). The NCIB effectively renews the previous NCIB which will terminate on July 21, 2026.
Under the previous NCIB, the Corporation sought and obtained approval to purchase 18,911,524 common shares of CES (the “Common Shares”) and to date 10,510,000 Common Shares will have been acquired through market purchases on the TSX and other alternative Canadian securities trading platforms, at a volume-weighted average purchase price of approximately $10.65 per Common Share.
CES’ Board of Directors and management continue to believe that from time to time the market price of CES’ Common Shares do not reflect their underlying value. Accordingly, the renewal of CES’ NCIB provides the Corporation with an additional capital allocation alternative that allows CES to reduce the Corporation’s Common Shares, providing an attractive opportunity to enhance shareholder value.
