{"id":1247,"date":"2018-03-19T07:00:35","date_gmt":"2018-03-19T11:00:35","guid":{"rendered":"http:\/\/neomaterials.com\/?p=1247"},"modified":"2022-11-23T16:43:18","modified_gmt":"2022-11-23T21:43:18","slug":"neo-normal-course-issuer-bid","status":"publish","type":"post","link":"https:\/\/www.neomaterials.com\/neo-normal-course-issuer-bid\/","title":{"rendered":"Neo Performance Materials Announces Normal Course Issuer Bid and Automatic Purchase Plan for its Common Shares"},"content":{"rendered":"

TORONTO, Canada, March 19, 2018 \u2013 Neo Performance Materials Inc. (“Neo<\/strong>” or the “Company”)\u00a0(TSX: NEO<\/strong>) announced today that the Toronto Stock Exchange (the “TSX<\/strong>“) has accepted a notice filed\u00a0by Neo of its intention to make a Normal Course Issuer Bid (the “Bid”) for up to 1,996,078 of its issued\u00a0and outstanding common shares (the “Shares<\/strong>“). In connection with the Bid, the Company has entered\u00a0into an automatic share purchase plan with its designated broker to allow for purchases of its Shares (the\u00a0“Share Purchase Plan<\/strong>“).<\/p>\n

Purchases of Shares under the Bid may commence on March 21, 2018 and will terminate on March 20, 2019, or on such earlier date as the Bid is complete. Purchases of Shares may be made in the open market\u00a0through the facilities of the TSX or alternative trading systems. Purchases under the Share Purchase Plan will be determined by Neo’s broker in its sole discretion, without consultation with the Company, subject\u00a0to the limitations of the Share Purchase Plan and the rules of the TSX. The Share Purchase Plan is\u00a0considered an “automatic plan” for purposes of applicable Canadian securities laws. The Share Purchase\u00a0Plan was established to provide standard instructions regarding how the Shares are to be purchased under\u00a0the Bid. Accordingly, Neo may purchase its Shares in accordance with the Share Purchase Plan on any trading day during the Bid, including during self-imposed trading blackout periods. The Company may otherwise vary, suspend or terminate the Share Purchase Plan only if it does not have material non-public information, the decision to vary, suspend or terminate the Share Purchase Plan is not taken during a\u00a0self-imposed trading blackout period and any variation, suspension or termination is made in accordance\u00a0with the terms of the Share Purchase Plan.<\/p>\n

The average daily trading volume of the Shares for the previous six calendar months (“ADTV<\/strong>“) (December 8, 2017 to March 15, 2018) was 30,892 Shares. On any trading day, purchases under the Bid\u00a0will not exceed 7,723 Shares. The price that the Company will pay for any Shares purchased under the Bid will be the prevailing market price at the time of purchase. Any Shares purchased by the Company will be cancelled.<\/p>\n

As of March 16, 2018, being the date of the notice of the Bid, there were 39,921,577 Shares issued and outstanding. The 1,996,078 Shares that may be repurchased under the Bid represent approximately 5%\u00a0of the issued and outstanding Shares on March 16, 2018.<\/p>\n

Neo believes that its Shares have been trading in a price range which does not adequately reflect the\u00a0value of such shares in relation to the business of Neo and its future business prospects. As a result,\u00a0depending upon future price movements and other factors, Neo believes that its outstanding Shares may\u00a0represent an attractive investment to Neo. Furthermore, the purchases are expected to benefit all persons\u00a0who continue to hold Shares by increasing their equity interest in Neo.<\/p>\n

#\u00a0 #\u00a0 #<\/p>\n

Cautionary Statement Regarding Forward-Looking Information<\/strong><\/p>\n

This news release contains \u201cforward-looking information\u201d within the meaning of applicable securities laws in Canada. Forward-looking information may relate to future events or future performance of the\u00a0Company. All statements in this release, other than statements of historical facts, with respect to the\u00a0Company’s objectives and goals, as well as statements with respect to its beliefs, plans, objectives, expectations, anticipations, estimates, and intentions, are forward-looking information. Specific\u00a0forward-looking statements in this discussion include, but are not limited to: expectations regarding\u00a0certain of the Company’s future results and information, including, among other things, revenue,\u00a0expenses, sales growth, capital expenditures, and operations; statements with respect to expected use of\u00a0cash balances; continuation of prudent management of working capital; source of funds for ongoing\u00a0business requirements and capital investments; expectations regarding sufficiency of the allowance for\u00a0uncollectible accounts and inventory provisions; analysis regarding sensitivity of the business to changes\u00a0in exchange rates; impact of recently adopted accounting pronouncements; risk factors relating to\u00a0intellectual property protection and intellectual property litigation; and, expectations concerning any\u00a0remediation efforts to the Company’s design of its internal controls over financial reporting and\u00a0disclosure controls and procedures. Often, but not always, forward-looking information can be identified by the use of words such as \u201cplans\u201d, \u201cexpects\u201d, \u201cis expected\u201d, \u201cbudget\u201d, \u201cscheduled\u201d, \u201cestimates\u201d,\u00a0\u201ccontinues\u201d, \u201cforecasts\u201d, \u201cprojects\u201d, \u201cpredicts\u201d, \u201cintends\u201d, \u201canticipates\u201d or \u201cbelieves\u201d, or variations of,\u00a0or the negatives of, such words and phrases, or state that certain actions, events or results \u201cmay\u201d, \u201ccould\u201d,\u00a0\u201cwould\u201d, \u201cshould\u201d, \u201cmight\u201d or \u201cwill\u201d be taken, occur or be achieved. This information involves known\u00a0and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. The Company believes the\u00a0expectations reflected in such forward-looking information are reasonable but no assurance can be given\u00a0that these expectations will prove to be correct and such forward-looking information included in this\u00a0discussion and analysis should not be unduly relied upon. For more information on the Company,\u00a0investors should review the Company’s continuous disclosure filings that are available under the\u00a0Company’s profile at www.sedar.com.<\/p>\n

About Neo Performance Materials<\/strong><\/p>\n

Neo Performance Materials is a global leader in the innovation and manufacturing of rare earth- and rare\u00a0metal-based functional materials, which are essential inputs to high technology, high growth, future-facing\u00a0industries. The business of the Company is organized along three segments: Magnequench,\u00a0Chemicals & Oxides and Rare Metals. The Company is headquartered in Toronto, Ontario, Canada; with\u00a0corporate offices in Greenwood Village, Colorado, US; and Beijing, China. The Company operates\u00a0globally with sales and production across 10 countries, being Japan, China, Thailand, Estonia, Singapore,\u00a0Germany, United Kingdom, Canada, United States, and South Korea. For more information, please visit\u00a0www.neomaterials.com<\/a>.<\/p>\n

Information Contacts
\n<\/strong>
\nAli Mahdavi
\nCapital Markets and IR
\n(416) 962-3300
\nEmail: a.mahdavi@neomaterials.com<\/a><\/p>\n

Jim Sims
\nMedia Relations
\n+1 (303) 503-6203
\nEmail: j.sims@neomaterials.com<\/a><\/p>\n

Website: www.neomaterials.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Neo Performance Materials announces that the Toronto Stock Exchange has accepted a notice filed\u00a0by Neo of its intention to make a Normal Course Issuer Bid for up to 1,996,078 of its issued\u00a0and outstanding common shares.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[12,36,37,40,43],"class_list":["post-1247","post","type-post","status-publish","format-standard","hentry","category-news-releases","tag-automatic-purchase-plan","tag-ncib","tag-neo","tag-neo-performance","tag-normal-course-issuer-bid"],"acf":[],"yoast_head":"\nNeo Normal Course Issuer Bid, Automatic Purchase Plan<\/title>\n<meta name=\"description\" content=\"Neo Performance Materials announces normal course issuer bid and automatic purchase plan for its common shares.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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