08:42 AM EDT, 03/27/2025 (MT Newswires) -- GDI Integrated Facility Services ( GDIFF ) said Thursday that the TSX approved its normal course issuer bid (NCIB) for 450,000 subordinate voting shares, or 3.04% of the amount outstanding.

The company said the NCIB may commence March 31 and expires on March 30, 2026.

"Following recent share price movements, GDI's management and board of directors believe that at certain times the purchase for cancellation of the company's subordinate voting shares falls within its criteria for capital allocation," said Claude Bigras, GDI's president and CEO.

"The NCIB will provide the ability for the company to purchase subordinate voting shares at its discretion and in accordance with TSX rules as part of its mandate to increase shareholder value," Bigras added.

GDI's share price gained 1.3% on Wednesday to $30.75 on the TSX.