Integrated Asset Management Corp. (“IAM”) (TSX:IAM) today announced that the Toronto Stock Exchange (the “TSX”) has approved IAM’s notice of intention to renew its normal course issuer bid for the purchase for cancellation of certain of its common shares.
Under the previous normal course issuer bid which came into effect on May 21, 2015 and will expire on May 20, 2016 IAM purchased 126,100 common shares, representing 0.5% of the outstanding common shares at the commencement of the normal course issuer bid. These purchases were made at a weighted average price of $0.97. On May 12, 2016, the common shares closed at $1.09.
IAM considers that these purchases from time to time at prevailing market prices may provide liquidity for shareholders and be a worthwhile investment for both IAM and its shareholders.
IAM announces Results for the Second Quarter of Fiscal 2016. – IAM Group