HMCBF - Home Capital announces prelim results of substantial issuer bid

• Home Capital Group ( OTCPK:HMCBF ) announced preliminary results of its substantial issuer bid to repurchase for cancellation up to C$115M of shares.
• Group expects to take up and purchase for cancellation 1,547,296 shares at a purchase price of C$28.60 per share.
• Shares expected to be purchased under the offer represent ~3.87% of the shares issued and outstanding as at September 13, 2022.
• Yousry Bissada, President and CEO commented, “While we were able to return C$44.3 million to participating shareholders, the fact that the tender offer was not fully subscribed indicates that many of our shareholders see the potential for additional upside value in our shares. Given our robust capital levels, we will continue with our efforts to create value through our capital program while retaining sufficient capital to support our business growth and maintain financial flexibility.”

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