Quipt Home Medical implements capital allocation option 

CINCINNATI – Quipt Home Medical has announced the Toronto Stock Exchange has accepted its notice of intention to implement a normal course issuer bid (NCIB). Under the NCIB, the company may purchase for cancellation up to 3,626,845 common shares from time to time in accordance with applicable securities laws, ‎representing approximately 10% of the company’s public float (as defined by the TSX). “We are pleased to announce this NCIB as an additional capital allocation option to enhance long-term shareholder ‎value, which is our management team and board’s top priority,” said CEO and Chairman Greg Crawford. “The NCIB reflects our strong view that our ‎common shares continue to trade at a discount and displays the confidence that we have in our business and its ‎future opportunities. Our continued financial and operational performance, together with our strong balance sheet ‎has put our company in the strongest position that it has ever been, and yet our share price continues to languish. ‎We believe the NCIB provides us with flexibility around capital allocation, particularly during periods in which ‎there may be a disconnect between our share price, relative valuation, and our financial performance. Given our ‎continued confidence in our business model and future growth, along with our strong balance sheet and our view ‎that the market is not properly reflecting the fundamentals of the business, we see the NCIB as a welcome ‎supplement to our strategy. We look forward to continuing our multifaceted approach to growth and ‎opportunistically utilizing the NCIB as an additional option for capital allocation.” The NCIB will commence on May 6‎, 2024, and will terminate upon the earliest of 1) April 30‎, 2025, 2) the company purchasing the maximum of ‎3,626,845 ‎common shares, and 3) the company terminating the NCIB. As of April 30, 2024, the company had ‎42,571,523‎ common shares outstanding.