ATS announces election of directors and activity under NCIB

ATS Corporation (TSX and NYSE: ATS) has announced a normal-course issuer bid (NCIB) approved by the Toronto Stock Exchange (TSX), allowing the company to repurchase up to 8,259,180 common shares, or approximately 10% of its public float, over a 12-month period beginning December 16, 2024, and ending on or before December 15, 2025. The repurchase program is subject to regulatory requirements and daily purchase limits, with ATS restricted to buying no more than 25% of the average daily trading volume on any given day, or 65,819 shares, unless exempted for block purchases.

The company also recently completed its 2023 NCIB, under which it repurchased and cancelled 1,021,187 common shares at a weighted average price of $44.07 per share. ATS management views NCIBs as part of its broader capital structure strategy and a means to support shareholder value when the company believes its shares are undervalued.

An NCIB is a Canadian regulatory-approved share repurchase mechanism that allows companies to buy back and cancel their own shares, often to support stock prices or reduce takeover risks. Investors are advised to consider these programs carefully and consult with financial professionals before making investment decisions.