From Financial Post · GlobeNewswire · · 1m 30s
Major Drilling Renews Share Buyback Plan
Major Drilling restarts buying its own shares to boost shareholder value.
In brief
Major Drilling restarts buying its own shares to boost shareholder value. Major Drilling Group International Inc. renewed its share buyback program to purchase up to 4.1 million shares over 12 months starting October 21, 2026. Originally reported by Financial Post.
Major Drilling Announces Share Buyback Renewal
Major Drilling Group International Inc. renewed its normal course issuer bid to purchase up to 4,111,846 common shares over 12 months starting October 21, 2026.
Share Repurchase Details
The buyback will occur through TSX facilities, with shares purchased at market price and cancelled after acquisition.
Buyback Limitations
Daily purchases capped at 54,146 shares, representing 25% of the average daily trading volume for the six-month period ending September 30, 2026.
Previous Buyback Program
The company previously authorized up to 4,097,159 shares but had not purchased any shares by October 19, 2026.
Automatic Repurchase Plan
Major Drilling will use an automatic repurchase plan to allow share purchases during regulatory restrictions or blackout periods.
Management Rationale
Management believes the company's market value may not reflect true worth, so buying shares will benefit remaining shareholders.
Share Count
As of October 7, 2026, Major Drilling had 82,236,936 common shares issued and outstanding.
Forward-Looking Statements
The buyback program includes risks related to mining industry activity, competition, political environments, and currency movements.
Company Background
Major Drilling is the world's largest provider of drilling services in the metals and mining industry, established in 1980.
The one thing
Major Drilling Group International Inc. renewed its share buyback program to purchase up to 4.1 million shares over 12 months starting October 21, 2026.
