On
The aggregate number of Class I Shares that the Company may purchase under the NCIB during any trading day is subject to a maximum daily purchase limit of 60,761 Class I Shares (being 25 per cent of the average daily trading volume for the six calendar months preceding the date of the acceptance of the Notice, which was equal to 243,047 Class I Shares) from
Any Class I Shares purchased pursuant to the Notice will be cancelled. Class I Shares will be purchased at the market price of the Class I Shares at the time of purchase and will be purchased on behalf of the Company by a registered investment dealer through the facilities of the Exchange and any alternate trading systems through which trades of the Class I Shares may be effected under applicable securities laws. Any purchase of Class I Shares pursuant to the NCIB will be financed out of cash and working capital of the Company.
The Company purchased 150,000 Class I Shares at an average trading price of
In connection with the NCIB, the Company will also enter into an automatic securities purchase plan ("ASPP") with a designated broker (the "Broker") on or about the commencement date of the NCIB. The ASPP has been reviewed by the Exchange and will facilitate the Company's repurchase of Class I Shares under the NCIB through the facilities of the Exchange, subject to certain trading parameters. At its own discretion, the Broker may repurchase Class I Shares, without the control or influence of the Company. During the term of the ASPP, the Company will not communicate any material undisclosed or non-public information to the trading staff of the Broker; accordingly, the Broker may make purchases under the ASPP at any time, including during self-imposed trading blackouts and regardless of whether there is material undisclosed or non-public information about the Company at the time of purchase. The Company may otherwise vary, suspend or terminate the ASPP only if it does not have material undisclosed or non-public information, the decision to vary, suspend or terminate the ASPP is not taken during a self-imposed trading blackout and any variation, suspension or termination is made in accordance with the terms of the ASPP.
Outside of these periods, the Class I Shares will be repurchased by the Company at its discretion under the NCIB.
With approximately 6,200 employees and assets of
Investor & Analyst Inquiries:
Director, Investor Relations & External Disclosure
T: 403-292-7879 C: 403-828-2908
Media Inquiries:
Senior Manager, Corporate Communications
587-228-4571
Forward-Looking Information:
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions, including the entering into of the ASPP.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information.
The Company's actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions (including as may be affected by the COVID-19 pandemic), and other factors, many of which are beyond the control of the Company.
The Company believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon.
Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE
© Canada Newswire, source