LAVAL, Québec, Nov. 13, 2026 (GLOBE NEWSWIRE) -- Savaria Corporation (“Savaria”) (TSX: SIS), one of the global leaders in the accessibility industry, is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted Savaria’s notice of intention to make a normal course issuer bid (the “NCIB”). Pursuant to the NCIB, Savaria proposes to purchase, from time to time, if considered advisable, up to an aggregate of 1,000,000 of its common shares (“Common Shares”), being approximately 1.38% of its 72,269,829 issued and outstanding Common Shares as of November 9, 2026, through the facilities of the TSX, other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by the applicable securities regulator. The price that Savaria will pay for any Common Shares acquired by it will be the market price of the Common Shares at the time of acquisition. In case of off-exchange purchases, purchases may be at a discount to the prevailing market price. Purchases may commence on November 17, 2026 and will conclude on the earlier of the date on which purchases under the NCIB have been completed and November 16, 2027.
The average daily trading volume of the Common Shares over the most recently completed six calendar months was 210,673 Common Shares through the facilities of the TSX. Accordingly, as regards purchases of Common Shares made by Savaria through the facilities of the TSX, Savaria is entitled to purchase, on any trading day, up to 52,668 Common Shares and to make block purchases of Common Shares which exceed such daily limit no more frequently than once per calendar week.
Savaria believes that purchases of Common Shares under the NCIB may contribute to an orderly market for its securities and represent from time to time an attractive investment and a desirable use of a portion of its corporate funds, including to offset the dilution resulting from the issuance of Common Shares under its stock option plan. All Common Shares purchased by Savaria pursuant to the NCIB will be cancelled.
“Based on the November 9, 2026 closing price of $30.22, the NCIB would allow Savaria to repurchase up to approximately $30.2 million of its Common Shares over the next twelve months,” said Marcel Bourassa, Executive Chairman of Savaria. “This program reflects our confidence in Savaria’s long-term prospects and gives us an additional tool to create value for our shareholders, while preserving the financial flexibility to pursue our growth strategy.”
In connection with the NCIB, Savaria has established an automatic purchase plan (the “Plan”). The Plan enables Savaria to provide standard instructions regarding how the Common Shares are to be repurchased on the open market during self-imposed blackout periods. The Plan constitutes an automatic plan for purposes of applicable Canadian securities legislation and has been pre-cleared by the TSX.
Savaria has not purchased any Common Shares under a normal course issuer bid within the past 12 months.
About Savaria Corporation
Savaria Corporation (corp.savaria.com) is one of the global leaders in the accessibility industry. It provides accessibility solutions for the physically challenged to increase their comfort, their mobility and their independence. Its product line is one of the most comprehensive on the market. Savaria designs, manufactures, distributes and installs accessibility equipment, such as elevators for home and commercial use, stairlifts for straight and curved stairs, vertical and inclined wheelchair lifts and dumbwaiters. In addition, Savaria manufactures and markets a comprehensive selection of pressure management products, medical beds, as well as an extensive line of medical equipment and solutions for the safe movement of patients, such as transfer, lifting and repositioning aids. The Corporation operates a sales network of dealers worldwide and direct sales offices in North America, Europe (UK, Netherlands, Switzerland, Italy, Germany, Poland and Czech Republic) and Australia. Savaria employs approximately 2,600 people globally and its plants are located across Canada, the United States, Mexico, Europe and China.
Cautionary Notice Regarding Forward-Looking Statements
Certain information in this press release may constitute “forward-looking statements” regarding Savaria, including statements regarding the NCIB, the number of Common Shares that may be purchased under the NCIB and the timing of such purchases. Most frequently, but not invariably, forward-looking statements are identified by the use of such terms as “plan”, “expect”, “should”, “could”, “budget”, “expected”, “estimated”, “forecast”, “intend”, “anticipate”, “believe”, variants thereof (including negative variants) or statements that certain events, results or shares “could”, “should” or “will” occur or be achieved. Such statements involve known and unknown risks, uncertainties and other factors liable to cause actual results, performance or achievements to differ materially from those set forth in or underlying the forward-looking statements. Such factors notably include general, economic, competitive, political and social uncertainties, the risks set forth under “Risks and Uncertainties” in Savaria’s latest Annual MD&A as well as other risks detailed from time to time in reports filed by Savaria with securities regulators in Canada. Although Savaria has attempted to identify the key elements liable to cause actual measures, events or results to differ from those described in the forward-looking statements, other factors could have an impact on the reality and produce unexpected results. There can be no assurance as to the number of Common Shares, if any, that Savaria will purchase under the NCIB. The forward-looking statements contained herein are valid at the date of this press release. Savaria undertakes no obligation to update forward-looking statements if circumstances or management’s estimates or opinions should change, except as required by law. As there can be no assurance that these forward-looking statements will prove accurate, actual future results and events could differ materially from those anticipated therein. Accordingly, readers are strongly advised not to unduly rely on these forward-looking statements.
For further information:
Marcel Bourassa Executive Chairman 1. 800.661.5112 marcelb@savaria.com | Sébastien Bourassa President and CEO 1. 800.661.5112 sb@savaria.com |
Facebook: https://www.facebook.com/savariabettermobility
Instagram: https://www.instagram.com/savariacorp/
LinkedIn: https://ca.linkedin.com/company/savaria
