TORONTO–(BUSINESS WIRE)–Home Capital Group Inc. (“Home Capital” or “the Company”) (TSX: HCG) announced today its intention to resume repurchases of its common shares under its Normal Course Issuer Bid (“NCIB”). Home Capital suspended such purchases in March of this year due to the onset of the COVID-19 pandemic. With the passage of time and continued stability in its financial performance, Home Capital believes that it is appropriate to resume repurchases under its NCIB.
Home Capital also intends to apply to renew its NCIB prior to its expiry on January 21, 2021. The aggregate repurchases under both the current and renewed (subject to Toronto Stock Exchange approval) NCIB are not expected to exceed $50 million.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking information within the meaning of applicable Canadian securities legislation, including relating to Home Capital’s intentions regarding its Normal Course Issuer Bid and the size, timing, and terms and conditions of the Normal Course Issuer Bid. Please refer to Home Capital’s 2019 Annual Report, available on Home Capital’s website at www.homecapital.com, and on the Canadian Securities Administrators’ website at www.sedar.com, for Home Capital’s Caution Regarding Forward-looking Statements.
About Home Capital: Home Capital Group Inc. is a public company, traded on the Toronto Stock Exchange (HCG), operating through its principal subsidiary, Home Trust Company. Home Trust is a federally regulated trust company offering residential and non-residential mortgage lending, securitization of residential mortgage products, consumer lending and credit card services. In addition, Home Trust offers deposits via brokers and financial planners, and through a direct-to-consumer brand, Oaken Financial. Home Trust also conducts business through its wholly owned subsidiary, Home Bank. Licensed to conduct business across Canada, we have offices in Ontario, Alberta, British Columbia, Nova Scotia, Quebec and Manitoba.
Director, Investor Relations
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