Tecsys Announces Intention to Buy Back Shares under a Normal Course Issuer Bid

Montreal, Canada — September 12, 2023. Tecsys Inc. (“Tecsys” or the “Company”) (TSX: TCS) announces that the Toronto Stock Exchange (the “TSX”) has accepted its notice of intention to make a normal course issuer bid (“NCIB”).

Tecsys believes that the market value of its common shares (“Shares”) may not always fully reflect the full value of the Company and, in such circumstances, purchases under the NCIB may represent an appropriate and desirable use of its available funds. Such purchases will increase the proportional share interest of those shareholders who retain their Shares. Any purchases made by Tecsys under the NCIB will be made by Tecsys at the prevailing market price at the time of acquisition, plus brokerage fees, through the facilities of the TSX and/or alternative Canadian trading systems.

Pursuant to the NCIB, during the twelve-month period commencing September 14, 2023 and ending September 13, 2024, Tecsys intends to purchase up to 500,000 Shares, which represents 3.4% of its 14,694,143 issued and outstanding Shares as of September 1, 2023. Under the NCIB, other than purchases made under block purchase exemptions, Tecsys may purchase up to 3,572 Shares on the TSX during any trading day, which represents 25% of 14,288, being the average daily trading volume for the six months ended August 31, 2023. Any Shares purchased under the NCIB will be cancelled. Tecsys has not acquired any Shares pursuant to an NCIB within the last twelve months.

Share repurchases made pursuant to the Company’s NCIB will be predicated upon maintaining a strong balance sheet, performance of the business, and the availability and attractiveness of alternative capital investment opportunities. The actual number of Shares purchased under the NCIB, the timing of the purchases, and the price at which the Shares are acquired will depend upon a variety of factors including future market conditions.

Tecsys will be entering into an automatic securities purchase plan to be effective on or about September 15, 2023 with a designated broker which will allow for the purchase for cancellation of Shares under the NCIB, subject to certain trading parameters, by its designated broker during times when Tecsys would ordinarily not be active in the market due to applicable regulatory restrictions or self-imposed blackout periods. Outside of these periods, the Shares will be repurchased by Tecsys at its discretion under the NCIB.

About Tecsys

Since our founding 40 years ago, much has changed in the realm of supply chain technology. But one thing has remained constant; by developing dynamic and innovative supply chain solutions, Tecsys has been equipping organizations for growth and competitive advantage. Serving healthcare, distribution and converging commerce industries, and spanning multiple complex, regulated and high-volume markets, Tecsys delivers warehouse management, distribution and transportation management, supply management at point of use, and retail order management, as well as complete financial management and analytics solutions.

Tecsys’ shares are listed on the Toronto Stock Exchange under the ticker symbol TCS. For more information on Tecsys, visit www.tecsys.com.

Contact

• Public Relations: Adam Polka adam.polka@tecsys.com
• General Information: info@tecsys.com
• Investor Relations: investor@tecsys.com
• By Phone: (514) 866-0001 or (800) 922-8649

Forward Looking Statements

The statements in this news release relating to matters that are not historical fact are forward looking statements that are based on management’s beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.’s business can be found in the MD&A section of the Company’s annual report and the most recently filed annual information form. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR+ (www.sedarplus.ca). 

Copyright © Tecsys Inc. 2023. All names, trademarks, products, and services mentioned are registered or unregistered trademarks of their respective owners.