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Methanex Corporation announced that its Board of Directors has approved a Normal Course Issuer Bid (“NCIB”) whereby the Company will be entitled to purchase for cancellation up to 3,868,213 common shares, representing 5% of the 77,364,263 Shares issued and outstanding as of October 29, 2026. Purchases under the NCIB may commence on November 4, 2026 and end no later than November 3, 2027. Any purchases will be made from time to time at the then current market price of the Shares and all Shares purchased under the NCIB will be cancelled.
Rich Sumner, President and CEO, Methanex Corporation, stated, “With strong operational results and high methanol prices, we are making great progress on de-leveraging to a stronger and more resilient balance sheet and we are pleased to announce the opening of this share repurchase program that will allow us to return additional capital to our shareholders.”
Purchases pursuant to the NCIB will be made on the open market through the facilities of the NASDAQ Global Select Market (“NASDAQ”) and alternative trading systems in the United States pursuant to Rule 10b-18 under the U.S. Securities Exchange Act of 1934. Subject to certain exceptions for block purchases, daily repurchases under the program through the NASDAQ and alternative trading systems in the United States will not exceed 25% of the Company’s average daily trading volume for the four-week period preceding the date of purchase. The Company will enter into an automatic securities purchase plan with its broker in connection with purchases to be made under the NCIB, which will enable Methanex to provide standard instructions and purchase Shares on the open market during self-imposed blackout periods. Outside of these blackout periods, Shares may be purchased under the NCIB in accordance with management’s discretion.
ABOUT METHANEX
Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol “MX” and on the Nasdaq Stock Market in the United States under the trading symbol “MEOH”.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
