Mitel Announces TSX Acceptance of Normal Course Issuer Bid
MITEL NETWORKS (MITL)
Last mitel networks earnings: 2/22 06:30 am
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Source: GlobeNewswire
OTTAWA, March 07, 2018 (GLOBE NEWSWIRE) -- Mitel® (Nasdaq:MITL) (TSX:MNW), a global leader in business communications, today announced that its Board of Directors has authorized a share buyback program. In a filing with the Toronto Stock Exchange (the "TSX"), the TSX has accepted the company’s Notice of Intention to Make a Normal Course Issuer Bid (the "Notice"). Pursuant to the Notice, Mitel may purchase up to 6,006,761 Mitel Common Shares (the “Bid”), representing approximately 5% of its issued and outstanding Common Shares. As at February 23, 2018, Mitel had 120,135,230 issued and outstanding Common Shares, including a public float of 103,619,382 Common Shares. Pursuant to its normal course issuer bid commenced March 9, 2017 and terminating March 8, 2018, Mitel sought and was approved for purchase of up to 7,816,574 of its Common Shares, and has actually purchased 4,950,979 of its Common Shares at a weighted average price per Common Share of $7.21. These purchases were made on
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