easyhome Ltd. Announces Normal Course Issuer Bid
MISSISSAUGA, ONTARIO - (Marketwired - June 23, 2015) - easyhome Ltd. (TSX:EH), ("easyhome" or the "Company"), the Canadian leader in providing goods and financial services to the cash and credit constrained consumer, today announced the acceptance by the Toronto Stock Exchange (the "TSX") of easyhome's Notice of Intention to Make a Normal Course Issuer Bid (the "NCIB").
Pursuant to the NCIB, easyhome proposes to purchase, from time to time, if it is considered advisable, up to an aggregate of 670,000 Common Shares, being approximately 4.98% of easyhome's issued and outstanding Common Shares as of June 12, 2015. As at June 12, 2015, easyhome had 13,453,606 Common Shares issued and outstanding and the average daily trading volume for the 6 months prior to May 31, 2015 was 38,566.
Daily purchases will be limited to 9,641 Common Shares, other than block purchase exemptions. The purchases may commence on June 25, 2015 and will terminate on June 24, 2016 or on such earlier date as easyhome may complete its purchases pursuant to the Notice of Intention. The purchases made by easyhome will be effected through the facilities of the TSX, as well as alternative trading systems, and in accordance with the rules of the TSX. The price that easyhome will pay for any Common Shares will be the market price of such shares at the time of acquisition. easyhome will make no purchases of Common Shares other than open-market purchases.
The Board of Directors of easyhome believes that the proposed purchases are in the best interests of the Company and are a desirable use of corporate funds. All Common Shares purchased by easyhome pursuant to the NCIB will be cancelled.
easyhome Ltd. is the Canadian leader in providing goods and financial services to the cash and credit constrained consumer. easyhome Ltd. serves its customers through two key operating divisions, easyhome Leasing and easyfinancial. easyhome Leasing is Canada's largest merchandise leasing company, offering top quality, brand-name household furnishings, appliances and home electronic products to consumers under weekly or monthly leasing agreements through both corporate and franchise stores. easyfinancial is a leading provider of consumer loans as an alternative to traditional banks and payday lenders.
easyhome Ltd. is listed on the TSX under the symbol 'EH'. For more information, visit www.easyhome.ca.
President and Chief Executive Officer
Executive Vice President and Chief Financial Officer