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Gibson Energy renews share buyback programme for 12 months

Gibson Energy has received approval from the Toronto Stock Exchange to extend its normal course issuer bid, covering up to 7.5% of the public float over a one-year period starting 18 September.

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Gibson Energy Inc. has announced the renewal of its normal course issuer bid (NCIB) for the repurchase of its common shares. The company’s board of directors approved the initiative, and the Toronto Stock Exchange (TSX) validated the notice of intention. The programme allows Gibson to repurchase and cancel up to 10,182,288 shares, representing 7.5% of the public float outstanding as of 15 September.

As of that date, the company had 163,831,435 common shares issued and outstanding. According to TSX regulations, the maximum number of shares that can be repurchased per day is 164,279, representing 25% of the average daily trading volume over the six-month period ending 31 August. The programme will expire on 17 September 2026, unless the authorised volume is reached earlier.

Market purchases and automatic plan

Repurchases will be carried out through the TSX or other Canadian alternative trading platforms, at prevailing market prices. Gibson has also renewed its automatic share purchase plan with BMO Nesbitt Burns Inc., allowing trades to take place during regulatory restrictions or internal blackout periods. The transactions are subject to the conditions set by the TSX and the terms of the agreement signed with the broker.

Previous programme history

The prior NCIB, active from 18 September 2024 to 17 September 2025, had authorised Gibson to repurchase up to 9,958,026 shares. However, no purchases were made during that period. The company stated that the renewed NCIB provides strategic flexibility to maximise shareholder value, while actual purchases will depend on market conditions and adherence to internal financial governance principles.

Operational considerations

The share buyback programme is positioned as a mechanism for Gibson to adjust its capital structure without pursuing external acquisitions. No specific target or timeline has been announced, allowing the company to modify or suspend activity as necessary.

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