Goodfellow Inc. Renews Its Normal Course Issuer Bid
Goodfellow Inc. (TSX: GDL), based in Delson, Quebec, has exciting news to share as it embarks on renewing its normal course issuer bid (NCIB) for its common shares. This strategic decision comes with the approval of the Toronto Stock Exchange (TSX), indicating the company’s strong commitment to enhancing shareholder value.
Details of the Normal Course Issuer Bid
The renewed NCIB allows Goodfellow to repurchase up to 481,002 Shares within a defined period starting from November 20, 2025, and extending until no later than November 19, 2026. This represents about 10% of its public float based on current data. As of early November, Goodfellow has a total of 8,350,054 Shares issued and outstanding, alongside a public float of 4,810,022.
Purchase Mechanism
All repurchases will be conducted in the open market. The timing and quantity of these purchases will be based on several factors, including prevailing market conditions. Investment decisions will also consider the Company’s liquidity and capital positions as it focuses on maximizing resource allocation.
Impact of Trading Volume
During the specified period from May 1, 2025, to October 31, 2025, the average daily trading volume of Shares on the TSX was noted at 2,895. In line with TSX regulations, any daily purchases under the NCIB will be limited to 1,000 Shares unless specific exceptions apply, such as bulk purchases.
Goodfellow's Commitment to Value Creation
Goodfellow’s leadership emphasizes that acquiring Shares for cancellation represents a prudent utilization of funds. The timing of Share repurchases is also aligned with various market factors to ensure strategic effectiveness.
Automatic Share Purchase Plan
In conjunction with the NCIB, Goodfellow has renewed its automatic share purchase plan (ASPP). This enables a designated broker to acquire shares for cancellation, adhering to specific trading parameters imposed during regulatory blackouts or other restrictions. This structured strategy ensures that repurchases are made even during times when company activity may be restricted.
Historical Perspective on Share Repurchases
Previously, under its existing NCIB set to expire on November 19, 2025, Goodfellow received approval to repurchase 493,102 Shares. By early November, the Company successfully repurchased 111,100 Shares at an average price of $12.1781 per Share through TSX facilities within the past year, demonstrating active management of its capital and shareholder interests.
About Goodfellow Inc.
Goodfellow Inc. is a well-established player in the lumber industry and a wholesale distributor of building materials and floor coverings. It operates across Canada and the Northeastern U.S., serving both commercial and residential sectors. Goodfellow combines its distribution network with manufacturing capabilities to provide leading-edge solutions in lumber markets globally.
Frequently Asked Questions
What is the purpose of Goodfellow's NCIB?
The NCIB is designed to return capital to shareholders by repurchasing a portion of its outstanding shares, thereby enhancing shareholder value.
How many shares can Goodfellow purchase under the renewed NCIB?
Goodfellow can purchase up to 481,002 Shares during the specified 12-month period.
What factors influence the timing of share repurchases?
Factors include market conditions, the company’s capital position, and liquidity considerations.
Can Goodfellow stop the NCIB at any time?
Yes, the Company has the flexibility to suspend or discontinue the NCIB whenever it sees fit.
Who should I contact for more information about Goodfellow?
For inquiries, you can contact Patrick Goodfellow, President and CEO, at 450 635-6511 or via email at info@goodfellowinc.com.
