SNC-Lavalin Group Inc.'s board of directors recently filed a notice to renew for its normal course issuer bid for 12 months, which expired June 5.

“A maximum of 1,500,000 Common Shares, representing less than 1% of the issued and outstanding Common Shares as of May 23, 2017, may be purchased for cancellation,” SNC-Lavalin said in its press release. “As of May 23, 2017, the Company had 150,525,520 Common Shares issued and outstanding, 131,759,230 of which made up the public float.

SNC-Lavalin said that the purchase of common shares can be effective and in the best interest of the company under certain conditions. The company may make purchases to offset the dilution that comes into play from common share issuance.

“During the period that the normal course issuer bid is outstanding, the Company does not intend to make purchases of its Common Shares other than by means of open market transactions or such other means as may be permitted by the Toronto Stock Exchange and securities regulatory authorities from time to time and as applicable, including block purchases of Common Shares,” SNC-Lavalin stated.