Stingray Group Inc. (TSX: RAY) has announced that the Toronto Stock Exchange has approved the renewal of its normal course issuer bid, authorising the company to repurchase up to 4,420,643 subordinate voting and variable subordinate voting shares. The renewed programme, representing approximately 10% of the public float as at September 14, 2026, runs from September 27, 2026 to September 26, 2027. The move signals management's view that buying back shares represents an appropriate and desirable use of the company's capital, a signal investors in the Montreal-based streaming media company may be watching closely.

Key Points

  • Stingray Group Inc. (TSX: RAY) — Montreal-based connected streaming media company
  • TSX approved renewal of Stingray's normal course issuer bid to repurchase up to 4,420,643 subordinate shares
  • Programme runs September 27, 2026 to September 26, 2027; daily purchase limit set at 9,914 shares
  • Investors may be watching how aggressively management deploys capital under the renewed authorisation

Stingray's Renewed NCIB Scope and Daily Purchase Limits

Under the renewed programme, Stingray may purchase up to 9,914 Subordinate Shares on any single trading day, equivalent to 25% of the net average daily trading volume of 39,657 shares recorded in the six-month period preceding September 1, 2026. Repurchases may be conducted through TSX facilities, alternative Canadian trading systems, or via statutory exemptions granted by securities regulators. All shares acquired under the NCIB will be cancelled upon repurchase, directly reducing the total number of Subordinate Shares in circulation and proportionately increasing the interest of remaining shareholders.

Automatic Securities Purchase Plan Established for Blackout Periods

Stingray has established an automatic securities purchase plan with a designated broker, allowing share repurchases to continue during regulatory or self-imposed blackout periods when management would otherwise be restricted from trading. Before entering a blackout period, Stingray may instruct the designated broker to make purchases within pre-set parameters, at the broker's discretion. Outside blackout periods, purchasing decisions rest with Stingray's management. The automatic plan has been pre-cleared by the TSX and qualifies as an "automatic plan" under applicable Canadian securities legislation.

Previous NCIB Activity: 606,326 Shares Repurchased at $13.83 Average

Under its expiring NCIB, which authorised repurchases of up to 3,710,428 Subordinate Shares, Stingray had repurchased a total of 606,326 Subordinate Shares through TSX facilities and alternative Canadian trading systems as at September 14, 2026, at a weighted average price of $13.83 per share. At that date, there were 54,122,434 Subordinate Shares issued and outstanding, of which 44,206,433 comprised the public float. The immediate share price impact of the renewal announcement was not clear from available public information.