Partners Value Investments L.P., a leading investment partnership based in Toronto, recently made a significant announcement regarding the renewal of its normal course issuer bids. This strategic move showcases the Partnership’s commitment to enhancing shareholder value and optimizing its investment portfolio.
Receiving approval from the TSX Venture Exchange, Partners Value Investments L.P. is set to repurchase up to 3,521,732 of its non-voting equity limited partnership units and up to 938,226 of its non-voting Class A preferred limited partnership units, Series 1. These repurchases represent approximately 5% of the currently outstanding Equity LP Units and Preferred LP Units respectively.
The period for these bids will be effective from January 3, 2025, until January 2, 2026, or until the Partnership completes its purchases earlier than anticipated. The purchases will be executed through RBC Capital Markets on various trading platforms in Canada at market prices prevailing during the acquisition period. Upon acquisition, any bought Equity LP Units and Preferred LP Units will be terminated.
As of December 13, 2024, Partners Value Investments L.P. had a total of 70,434,631 outstanding Equity LP Units and 18,764,512 outstanding Preferred LP Units. In their prior normal course issuer bids expiring on January 2nd of the current year after commencing on January 3rd last year, the Partnership acquired 278324 Equity LP Units at an average price of $102.02 but did not purchase any Preferred LP Units.
The decision to renew these bids stems from the belief that there may be instances where the market price does not accurately reflect the true value of their securities. By repurchasing their own outstanding securities when undervalued or deemed appropriate by management using available funds effectively demonstrates prudent financial stewardship.
To facilitate these transactions smoothly despite potential trading restrictions or blackout periods dictated by internal policies or insider trading regulations within the company itself; an automatic purchase plan has been established with RBC Capital Markets for seamless execution.
Partners Value Investments L.P.’s proactive approach towards optimizing investment opportunities underscores their dedication to maximizing shareholder returns while adhering to regulatory compliance and ethical business practices.
For additional information or inquiries regarding this initiative and other related matters concerning Partners Value Investments L.P., interested parties are encouraged to contact Investor Relations at [email protected] or call at (416)643-7621.
In conclusion, while forward-looking statements are cautiously provided as per Canadian securities regulations due to inherent uncertainties and external factors beyond control; Partners Value Investments L.P.’s commitment to transparency and prudent financial management remains unwavering. Investors are urged to consider all relevant factors before making informed decisions based on comprehensive information available publicly.
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