CALGARY, Alberta, Feb. 23, 2026 (GLOBE NEWSWIRE) — Computer Modelling Group Ltd. (“CMG” or the “Company”) (TSX: CMG) today announced that the Toronto Stock Exchange (“TSX”) has accepted a notice (the “Notice”) filed by the Company to amend its Normal Course Issuer Bid (“NCIB”) effective as of February 26, 2026.
The amendment increases the maximum number of common shares (the “Shares”) of the Company that may be repurchased from 4,136,475 Shares, representing 5% of the Company’s outstanding shares as of November 3, 2025, to 4,791,369 Shares, representing 10% of the “public float” of the Company as of the close of business on November 3, 2025, as permitted by TSX rules. The “public float” represents outstanding Shares held by all shareholders other than restricted shares and shares held by the Company’s directors, senior officers and 10%+ shareholders.
Purchases under the NCIB began on November 14, 2025, and will end no later than November 13, 2026. The Company continues to have an automatic share purchase plan (an “ASPP”) with its designated broker to allow for purchases of its Shares.
As of the close of business on February 20, 2026, the Company had purchased 3,031,900 Shares under the NCIB.
Except for block purchases permitted under the rules of the TSX, the number of Shares to be purchased per day will not exceed 53,297 Shares, which represents 25% of the average daily trading volume of the Shares on the TSX for the six calendar months, ended October 31, 2025, being 213,191 Shares. The actual number of Shares which may be purchased under the NCIB and the timing of any such purchases will be determined by management of the Company, subject to the terms of the ASPP, applicable law and the rules of the TSX.
The amendment to the NCIB is being made to increase the number of shares eligible for purchase as the Company believes that, from time to time, the market price of CMG’s Shares may not fully reflect the underlying value of the Company’s business. As a result, depending upon future price movements and other factors, the Board believes that share repurchases would be a desirable use of corporate funds in the best interests of the Company. Furthermore, the purchases are expected to benefit all persons who continue to hold Shares by increasing their equity interest in the Company when such repurchased Shares are cancelled.
Subject to any required regulatory approvals, all purchases of Shares under the NCIB will be made through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems at prevailing market prices, or by such other means as may be permitted by the applicable securities regulators. All Shares purchased under the NCIB will be cancelled.
About CMG
CMG (TSX:CMG) is a global software and consulting company that combines science and technology with deep industry expertise to solve complex subsurface and surface challenges for the new energy industry around the world. CMG is headquartered in Calgary, AB, with offices in Houston, Oxford, Dubai, Bogota, Rio de Janeiro, Bengaluru, Kuala Lumpur, Oslo, Stavanger, and Kaiserslautern. For more information, please visit http://www.cmgl.ca.
Forward-Looking Information
This press release contains “forward-looking statements”. Forward-looking statements can be identified by words such as: “aims”, “intend”, “can”, “goal”, “seek”, “believe”, “estimate”, “expect”, “strategy”, “future”, “likely”, “may”, “should”, “will”, and similar references to future periods.
Forward-looking statements are neither historical facts nor assurances of future performance. They are based only on our current beliefs, expectations, and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements are detailed in the companies’ public filings.
Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. Except as required by applicable securities laws, we undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
