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TORONTO, May 18, 2016 /CNW/ - Cymbria Corporation
(TSX: CYB) ("Cymbria") announced today that it has filed a notice
with the Toronto Stock Exchange ("TSX") and received its approval
to make a Normal Course Issuer Bid ("NCIB"). This permits
Cymbria to purchase for
cancellation up to 1,424,388 non-voting, non-redeemable Class A
Shares (the "Shares") representing 10% of Cymbria's public float of Shares as of
May 6, 2016. As of May 6, 2016, Cymbria had a total of 14,366,327 Shares
issued and outstanding.
Cymbria may buy back Shares
from time to time during the twelve-month period beginning on
May 20, 2016 and ending on
May 19, 2017. All Class A Shares will
be purchased on the open market through the facilities of the TSX
or through alternative Canadian trading systems or by such other
means as may be permitted by the TSX or under applicable securities
laws.
In accordance with TSX rules, Cymbria can purchase a maximum of 287,326
Shares during a 30-day period, subject to certain TSX
exceptions.
Cymbria is implementing the
NCIB to allow it to purchase Shares if and when it makes sense to
do so. Decisions regarding the timing of future purchases of Shares
will be based on market conditions, share price and other
factors.
As of May 18, 2016, under
Cymbria's previous NCIB, which
expires on May 19, 2016, Cymbria did not buy back any Class A Shares
for cancellation.
ABOUT CYMBRIA CORPORATION
Cymbria's investment objective
is to provide shareholders with long-term capital appreciation
through an actively managed portfolio comprised primarily of global
equities and an investment in EdgePoint Wealth Management Inc.
Cymbria began trading on the TSX
on November 4, 2008 under the symbol
CYB.
SOURCE Cymbria Corporation