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IMAX Announces Increase In Share-repurchase Program - Quick Facts

IMAX Corp. (IMAX) announced an increase of $200 million in its share-repurchase program, bringing the total share repurchase authority to $400 million. With this increase, the company is authorized to repurchase up to approximately $225.0 million worth of common shares, which includes approximately $25.0 million remaining from the initial authorization in 2017, through June 30, 2023.

The company has received an exemption decision issued by the Ontario Securities Commission for relief from the formal issuer bid requirements under Canadian securities laws. The exemption decision permits the company to repurchase up to 15% of its outstanding common shares in any 12-month period through the facilities of the NYSE under repurchase programs.

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