Goodbody Health announces Normal Course Issuer Bid and Restricted Share Unit Plan

Goodbody Health

Goodbody Health Inc (AQSE: GDBY) has today announced (i) its intention to initiate a normal course issuer bid (“NCIB“) through the facilities of the Canadian Securities Exchange; and (ii) the adoption of a restricted share unit plan (the “RSU Plan“).

NCIB

Under the NCIB, the Company intends to acquire up to approximately 18,248,107 common shares in the capital of the Company, representing 5% of its issued and outstanding common shares. The NCIB will commence on March 11, 2022, and end no later than March 10, 2023, unless terminated earlier by the Company.

NCIB does not obligate the Company to purchase any Shares. The Company intends to appoint Canaccord Genuity Corp. to conduct the NCIB in Canada. The actual number of Shares purchased, timing of purchases and purchase price will depend upon the prevailing market conditions, subject to applicable securities law requirements. All Shares acquired by the Company pursuant to the NCIB will be returned to treasury and cancelled.

The Company is commencing the NCIB because it believes that the current market price of its Shares may not fully reflect the underlying value of the Company’s business and future prospects.

RSU Plan

In order to further align the interests of Goodbody Health’s senior executives, key employees, directors, and consultants to those of the shareholders of the Company, the board of directors (the “Board“) has approved the implementation of the RSU Plan. Pursuant to the RSU Plan, the Board may grant restricted share units (“RSUs“) to eligible persons, with vesting provisions also to be determined by the Board.  Pursuant to the RSU Plan, the maximum number of RSUs that may be granted is 10% of the Company’s issued and outstanding common shares as of the time of grant.

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