Pet Valu Holdings Announces Important Share Buyback Renewal
Pet Valu Holdings Ltd. (“Pet Valu”) (TSX: PET) has made a significant announcement regarding its normal course issuer bid (NCIB). As a leading specialty retailer of pet supplies in Canada, Pet Valu aims to strengthen its commitment to shareholders through this renewal.
Details of the Normal Course Issuer Bid
The Toronto Stock Exchange (TSX) has accepted Pet Valu’s notice to renew its NCIB. Under this renewal, the Company plans to repurchase up to 3,449,181 common shares, approximately 5% of its current outstanding shares, which total 68,983,625. This strategic buyback initiative is set to begin on December 2, 2025, and will extend until either December 1, 2026, or until the maximum number of shares is repurchased.
Understanding the Purchase Process
During this NCIB, Pet Valu can purchase up to 34,220 common shares within a single trading day. This limit is based on 25% of the average daily trading volume for the past six months, ensuring that the repurchases are conducted in an orderly manner while adhering to TSX regulations.
Implementation of the Automatic Share Purchase Plan
To facilitate these purchases, Pet Valu has established an automatic share purchase plan with a designated broker. This plan allows the broker to buy shares under the NCIB during blackout periods as dictated by the Company’s Insider Trading Policy while following price limits set forth by the plan and TSX rules.
Benefits of the NCIB for Shareholders
This renewal provides Pet Valu with the flexibility needed to manage capital effectively and generate value for its shareholders. With a responsible approach to share repurchases, Pet Valu reaffirms its dedication to enhancing shareholder returns while maintaining a strong balance sheet.
Previous NCIB Performance
In the current NCIB that expires on December 1, 2025, Pet Valu received approval to purchase up to 3,572,004 common shares, having repurchased 1,503,373 shares at an average price of approximately $26.54 during the specified period. This demonstrates the Company’s proactive approach to capital management and shareholder value enhancement.
About Pet Valu
Pet Valu is a prominent retailer of pet supplies in Canada, operating over 800 corporate and franchised locations nationwide. For more than four decades, Pet Valu has earned a reputation for providing exceptional customer service and an extensive selection of products. Their offerings include more than 10,000 competitively priced items, featuring popular and exclusive brands tailored to the needs of pets and their owners. The Company is headquartered in Markham, Ontario, with distribution centers strategically located in key areas, ensuring efficient supply chain operations.
Contact Information
For inquiries, please reach out to:
James Allison
Vice President, Investor Relations & Treasury
investors@petvalu.ca
289-806-4559
Frequently Asked Questions
What is the purpose of the NCIB for Pet Valu?
The NCIB allows Pet Valu to purchase its own shares, enhancing flexibility in managing capital and providing value to shareholders.
How many shares does Pet Valu intend to repurchase?
Pet Valu plans to repurchase up to 3,449,181 common shares under the renewed NCIB.
When will the repurchases take place?
The share repurchases under the NCIB are set to commence on December 2, 2025, and will run until December 1, 2026.
What has been the performance of the previous NCIB?
The previous NCIB saw Pet Valu repurchasing 1,503,373 shares, showcasing its commitment to increasing shareholder value.
How can I contact Pet Valu for more information?
You can reach out to James Allison, Vice President, Investor Relations & Treasury at investors@petvalu.ca for any inquiries.
