Secure Energy Services Inc. (TSX:SES) announces a share repurchase program. Under the substantial issuer bid, the company will repurchase up to 8.34% of it's issued share capital for $250 million. The shares will be tendered at a price of not less than $11.40 per share and not more than $13 per share.

The company plans to fund the offer from existing revolving credit facility and available cash on hand. The shares purchased under the offer will be cancelled. If the aggregate cost to purchase the tendered shares exceeds $250 million, the company will accept such shares on a pro-rata basis after giving effect to ?odd lot?

tenders, which will not be subject to pro-ration. The bid will expire on June 5, 2024, unless extended or withdrawn. As of April 29, 2024, the company had 263,097,071 shares in issue.