In January 2015, Ritchie Bros.' board of directors approved a share repurchase program of up to $100 million over three years. As Ritchie Bros. is listed on the TSX, the company was also required to obtain approval for a Normal Course Issuer Bid (NCIB) to transact share repurchases on the TSX. The company received TSX approval on February 26, 2015, for an NCIB.
More information about Ritchie Bros. share repurchase program can be found in the Company's press releases dated January 12, 2015 ("Ritchie Bros. Board authorizes share repurchase program") and February 26, 2015 ("Ritchie Bros. receives TSX approval for a Normal Course Issuer Bid").
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