Wednesday, June 29 2022


MISSISSAUGA, Ontario, December 14, 2021 (GLOBE NEWSWIRE) – kid Ltd. (TSX: GSY), (“kid“or the”Society“), one of Canada’s leading unprivileged consumer lenders, today announced acceptance by the Toronto Stock Exchange (the”TSX“) of goeasy’s notice of intention to renew its normal course issuer bid (the”NCIB“) and provided a capital management update, with reference to recent purchases for the cancellation of the Company’s common shares and hedging activities related to potential shares of Affirm Holdings Inc. (“To assert“) held by the Company.

Renewal of the public buyback offer in the normal course of business

Pursuant to the public tender offer, goeasy may purchase for cancellation up to a total of 1,243,781 ordinary shares in the capital of the Company (the “”Ordinary actions»), Representing around 10% of the public float of goeasy. As of December 7, 2021, goeasy had 16,254,135 common shares issued and outstanding.

As part of the public tender offer, goeasy may purchase up to 15,706 of its common shares on the TSX on any trading day, which represents 25% of the average daily trading volume of 62 825 common shares on the TSX for the six-month period ended November 30, 2021, other than bulk purchase exemptions. Purchases under the NCIB Offer may begin on December 21, 2021 and continue until December 20, 2022 or such earlier date on which goeasy completes its purchases in accordance with the NCIB Offer.

The public tender offer will be made through the TSX or alternative trading systems, if eligible, and the price that goeasy will pay for the Common Shares will be the market price prevailing at the time of purchase or any other authorized price. Purchases under the public tender offer will be effected through open market transactions or other means authorized by a securities regulatory authority, including pre-arranged crosses, exempt offers and private agreements. under an exemption order from a public tender offer issued by a securities regulatory authority.

As part of the renewal of the public tender offer, the Company also announces that it has entered into an automatic issuer purchase plan agreement (the “Plan“) with a designated independent broker (the”Broker”) Responsible for the purchase of common shares under the plan. Under the Plan, the Broker will be able, in its sole discretion, to purchase Common Shares as part of the issuer bid during blackout periods established under the Company’s trading policy. ‘insider, subject to price limits and other terms of the plan and the rules of the TSX. The Company may ask the Broker to make specific purchases and to suspend or terminate the Plan, provided in each case that the Company certifies to the Broker that it is not in possession of any material undisclosed information and that this The request is otherwise in accordance with the terms of the plan.

Purchases of shares within the framework of the public buyback offer in the normal course of business

As part of its normal course buyback offer, which began on December 21, 2020 and expires on December 20, 2021, the number of common shares that may be repurchased for cancellation was 1,079,703. Pursuant to the tender offer, between November 8, 2021 and December 7, 2021, the Company purchased for cancellation a total of 322,327 Common Shares, through the TSX and trading systems alternatives, at a volume weighted average price of $ 187.16 per common share. Share, resulting in a total investment of $ 60.3 million.

The purchase for cancellation of common shares is part of the Company’s capital management strategy, which is designed to efficiently allocate capital in a manner that will produce the best long-term return for shareholders. Provided the Company can access and maintain a sufficient level of liquidity to fund organic growth, invest in capital expenditures that produce future revenue growth and maintain its target level of financial leverage, the Company distributes a quarterly dividend proportional to around 35% of adjusted net earnings per share for the year, while using its excess capital to opportunistically invest in new lines of business, or buy its common stocks when they are deemed to trade below their value intrinsic. The Company continues to maintain a sufficient level of liquidity to fund its organic growth plans through 2023, which allows it to deploy excess capital in a manner consistent with this approach going forward.

Total return swap contract

After the end of the quarter, the Company entered into a 7-month total return swap contract (the “TRS“) to substantially hedge its market exposure linked to an additional 75,000 possible shares linked to the shares held in Affirm. The TRS effectively results in the economic value of this hedged portion of any shares of the Company in Affirm being settled in cash at US maturity $ 163.00 per share, net of applicable fees.

During the third quarter, the Company previously entered into a 9-month total return swap contract to substantially hedge its market exposure related to 100,000 conditional shares linked to the shares held in Affirm, these shares being cash settled at the maturity for US $ 110.35 per unit, net of applicable fees. To date, the Company has substantially hedged its market exposure related to 175,000 of the 468,000, or approximately 37%, of the total contingent shares related to shares held in Affirm.

About goeasy

goeasy Ltd., a Canadian company headquartered in Mississauga, Ontario, provides low cost leasing and lending services through its easyhome, easyfinancial and LendCare brands. Supported by more than 2,200 employees, the Company offers a wide variety of financial products and services, including secured and unsecured installment loans. Customers can transact seamlessly through an omnichannel model that includes an online and mobile platform, over 400 locations across Canada, and point-of-sale financing available in retail verticals , motorsports, automotive, home improvement and healthcare, in more than 4,000 merchants across Canada. Throughout its history, the company has acquired and organically served over one million Canadians and has made over $ 7.2 billion in loans, with one in three easyfinancial customers going into blue chip credit and 60% increasing their credit rating within 12 months of borrowing.

Accredited by the Better Business Bureau, goeasy is the proud recipient of several awards, including Waterstone Canada’s Most Admired Corporate Cultures, Glassdoor Top CEO Award, Achievers Top 50 Most Engaged Workplaces in North America, Greater Toronto Top Employers Award, Digital Finance Institute’s Canada’s Top 50 FinTech companies, listed on the TSX30 and ranked in the Report on Business ranking of Canadian fastest growing companies and have been certified Great Place to Work®. The company is represented by a diverse group of team members from over 75 nationalities who strongly believe in the importance of giving back to the communities in which it operates. To date, goeasy has raised and donated over $ 3.8 million to support its long-standing partnerships with BGC Canada, Habitat for Humanity and many other local charities.

goeasy Ltd. the common shares are listed on the TSX under the symbol “GSY”. goeasy is rated BB- with a stable trend from S&P and Ba3 with a stable trend from Moody’s. Visit www.goeasy.com.

For more information contact:
Jason mullin
President and CEO
(905) 272-2788

Farhan Ali Khan
Senior Vice President and Chief Business Development Officer
(905) 272-2788


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