Pulse Seismic Advances with Share Buyback Strategy and ASPP
Pulse Seismic’s Strategic Shareholder Enhancements
In the dynamic world of finance, companies continually seek innovative ways to enhance shareholder value. Pulse Seismic Inc. (TSX:PSD) is making strides towards this goal by announcing the acceptance of its Notice of Intention to enter a normal course issuer bid (NCIB) as approved by the Toronto Stock Exchange. This proposal allows the Company to purchase up to 2,770,658 common shares, which is 10 percent of the public float. The initiative marks a significant step in Pulse's commitment to managing its capital efficiently and returning value to its shareholders.
Details of the Normal Course Issuer Bid
Effective from February 24, 2025, until February 23, 2026, Pulse Seismic’s NCIB will allow share purchases that will all be conducted through the TSX or other Canadian trading platforms. As of mid-February 2025, the Company reported outstanding common shares amounting to 50,837,763. This buyback program reflects a prudent approach in maintaining a healthy market presence and enhancing shareholder trust and confidence.
Understanding Purchase Limits
During each trading day, Pulse's share purchases under the NCIB will be capped at 2,866 common shares. This figure represents 25 percent of the average daily trading volume observed over the previous six months leading to the filing of this intention.
Success of Previous NCIB
Reflecting on the period from December 20, 2023, to December 19, 2024, Pulse Seismic highlighted its earlier success by purchasing 1,799,600 common shares at an average price of $2.17 each. This initiative demonstrates a solid understanding of market dynamics while emphasizing the Company’s strategy to actively manage its share structure, thereby fostering a responsive investment atmosphere.
New Automatic Share Purchase Plan
In tandem with the NCIB, Pulse has also established an automatic share purchase plan (ASPP). This plan not only complements the NCIB but also allows for seamless repurchases of shares during periods when the Company cannot trade actively due to regulatory constraints, such as insider trading regulations. By setting this framework, Pulse ensures that share purchases can continue uninterrupted, adhering to established trading parameters without conflicts.
Corporate Overview of Pulse Seismic
As a leader in the seismic data sector, Pulse Seismic specializes in the acquisition, marketing, and licensing of both 2D and 3D seismic data within the western Canadian energy sphere. The Company boasts a largest library of licensable seismic data in Canada, currently encompassing around 65,310 square kilometers of 3D seismic data and an impressive 829,207 kilometers of 2D seismic data. This extensive collection covers key exploration areas in the Western Canada Sedimentary Basin, outlining Pulse’s critical role in supporting the oil and natural gas exploration sector.
Contact Information for Inquiries
For more insights into these strategic initiatives, interested parties can reach out to:
Neal Coleman, President and CEO
Or
Pamela Wicks, VP Finance and CFO
Telephone: 403-237-5559
Toll-free: 1-877-460-5559
Email: info@pulseseismic.com.
For more details, please visit our website at www.pulseseismic.com.
Frequently Asked Questions
What is the purpose of Pulse Seismic’s NCIB?
The NCIB is designed to allow Pulse Seismic to repurchase its shares, which helps to manage capital efficiently and return value to shareholders.
How many common shares can Pulse buy back?
Pulse Seismic can purchase up to 2,770,658 common shares under the NCIB, which represents 10 percent of its public float.
What are the timeframes for the share buyback program?
The NCIB will be active from February 24, 2025, to February 23, 2026.
What was the average price of shares purchased in the previous NCIB?
During the past NCIB, Pulse Seismic purchased shares at a weighted average price of $2.17 each.
What role does the automatic share purchase plan play?
The ASPP allows Pulse to continue share repurchases during timeframes when it cannot trade due to regulatory restrictions.
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