Google’s summary at least refers directly to daily trading volume.
"Other restrictions related to buybacks:
- Volume restrictions: Buybacks often have volume limits, meaning the company may not buy too large a share of the daily volume (e.g., often a max of 25% of the average daily volume)."
The buyback program has now been running for 18 days. Using the averages for this period, the situation would look as follows:
Volume (average 1,368 per day) total: 1,368 * 18 = 24,624
25% Limit: 24,624 * 0.25 = 6,156
Purchased shares: 23,015 - 15,000 = 8,015
Share of volume: 8,015 / 24,624 = 32.5%
Any potential Friday purchases are missing from the purchased shares, so the 25% limit is exceeded by some margin. Apparently, the 25% limit might not be strictly mandatory? I wonder where one could get such information confirmed. I don’t believe that First North companies would have any different rules than other marketplaces.