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TORONTO, May 24, 2024 (GLOBE NEWSWIRE) -- Ninepoint Partners LP (“Ninepoint”), on behalf of Canadian Large Cap Leaders Split Corp. (the “Company”) (TSX: NPS/NPS.PR.A), announced today that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a normal course issuer bid (the “NCIB”) to purchase its class A shares (“Class A Shares”) and preferred shares (“Preferred Shares”) through the facilities of the TSX and/or alternative Canadian trading systems. The NCIB will commence on May 28, 2024 and terminate on May 27, 2025.
Pursuant to the NCIB, the Company proposes to purchase, from time to time, up to 182,563 Class A Shares and 182,563 Preferred Shares of the Company, representing 10% of the public float of 1,825,633 Class A Shares and 1,825,633 Preferred Shares. As of May 16, 2024, there were 1,835,633 Class A Shares and 1,825,633 Preferred Shares issued and outstanding. The Company will not purchase, in any given 30-day period, in the aggregate, more than 36,712 Class A Shares or more than 36,512 Preferred Shares, being 2% of the issued and outstanding Class A Shares and Preferred Shares as of May 16, 2024.
Ninepoint, the manager of the Company, believes that such purchases are in the best interests of the Company. All purchases will be made through the facilities noted above and in accordance with the rules and policies of the TSX. All Class A Shares or Preferred Shares purchased by the Company pursuant to the NCIB will be cancelled.
About Ninepoint Partners LP
Based in Toronto, Ninepoint Partners LP is one of Canada’s leading alternative investment management firms overseeing approximately $7 billion in assets under management and institutional contracts. Committed to helping investors explore innovative investment solutions that have the potential to enhance returns and manage portfolio risk, Ninepoint offers a diverse set of alternative strategies spanning Equities, Fixed Income, Alternative Income, Real Assets, F/X and Digital Assets.
For more information on Ninepoint, please visit www.ninepoint.com or for inquiries regarding the Offering, please contact us at (416) 943-6707 or (866) 299-9906 or invest@ninepoint.com.
Certain statements included in this news release constitute forward-looking statements, including, but not limited to, those identified by the expressions “expects”, “intends”, “anticipates”, “will” and similar expressions to the extent that they relate to the Company. The forward-looking statements are not historical facts but reflect Ninepoint's current expectations regarding future results or events. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Although Ninepoint believes the assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, accordingly, readers are cautioned not to place undue reliance on such statements due to the inherent uncertainty therein. Neither the Company nor Ninepoint undertake any obligation to update publicly or otherwise revise any forward-looking statement or information whether as a result of new information, future events or other such factors which affect this information, except as required by law.
